State agencies to share revised funds for Ghaziabad metro in old ratio: GDA | noida | Hindustan Times
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State agencies to share revised funds for Ghaziabad metro in old ratio: GDA

Payment is still awaited from many state agencies

noida Updated: May 16, 2017 23:33 IST
Peeyush Khandelwal
Ghaziabad
The present cost of the 9.41km metro extension to Ghaziabad is pegged at around Rs2,210 crore, which includes a Rs1,479.6 crore share of various state agencies.(Sakib Ali/HT Photo)

Following a review meeting for funding options for the 9.41km metro extension in Ghaziabad, officials of the Ghaziabad Development Authority (GDA) said various agencies will share funds in a previously decided ratio. Under the funding pattern, the agencies, including GDA, are to share the Rs2,210 crore project cost in a specified ratio.

As the other departments have not expedited their payments, GDA officials had contemplated several options to expedite funding, in a review meeting in April with the commissioner (Meerut), who is also the chairman of the authority. These options included expeditious funding, writing to their parent department to expedite sharing of funds, obtaining soft loans from financial institutions and even funding by the state government.

“We will now be going as per the funding pattern decided earlier. The revised cost (the earlier cost being Rs1,770 crore as per 2012 price index) will be shared in the same ratio. For this, we have also raised the demand note for getting payments from agencies. Their parent departments have also been told to expedite payments and they have given their consent,” said Kanchan Verma, vice-chairperson, GDA.

“We are also expecting that the cabinet note for clearing the revised detailed project report (DPR) will also be taken in the coming cabinet meetings. For paying Rs 200 to the municipal corporation and getting it back as their share towards the metro, we are also expecting a decision to be taken for book adjustment. This has previously been done once for Lucknow metro project,” she added.

The authority had acquired land chunks from the corporation for which it had to pay Rs 200 crore. The corporation wants GDA to adjust the amount as their share towards the metro. However, in the absence of a government order, the amount cannot be paid to the corporation directly.

The present cost of the 9.41km metro is pegged at around Rs 2,210 crore, which also includes a Rs1,479.6 crore share by UP agencies such as the UP state industrial development corporation, GDA, Ghaziabad municipal corporation and Avas Vikas Parishad. Of this, the GDA has paid up a majority of its Rs695.8 crore while funds from other departments are still awaited. The remaining amount is to be borne by the Centre and the Delhi Metro Rail Corporation.

The clearance of the revised DPR by the state cabinet will help the project get a grant of Rs402.4 crore from the Centre. The revised DPR was not cleared or put up in a cabinet meeting during the previous regime. Since both the state and the Centre now have the Bharatiya Janata Party in power, officials expect the issue will be expedited soon.

According to officials, the funding issues will be resolved soon and the project will be opened for trial run by December this year. The metro line will have eight stations in Ghaziabad on an elevated corridor and will extend to Ghaziabad from Dilshad Garden metro station in Delhi.