Cash-hit GDA banks on others for Metro extension
Facing fund crunch for the second phase of Metro project, the Ghaziabad Development Authority (GDA) is now banking on a meeting to be held in Lucknow on November 29. Peeyush Khandelwal reports.delhi Updated: Nov 23, 2011 00:31 IST
Facing fund crunch for the second phase of Metro project, the Ghaziabad Development Authority (GDA) is now banking on a meeting to be held in Lucknow on November 29. This will decide the fund-sharing pattern for Delhi Metro’s second extension in Ghaziabad .
The authority’s vice-chairman Narendra Kumar Chaudhary said, “The meet is important as we plan to expedite the second phase of the project. It will decide the fund-sharing pattern to bring Metro network to the city in the next phase.”
After the first phase (Anand Vihar to Vaishali) started, the GDA declined to pay up solely for the second phase from Dilshad Garden to Arthala (near Mohan Nagar) in Ghaziabad, citing paucity of funds. It also demanded sharing Rs 815 crore with the Utaar Pradesh State Industrial Development Corporation (UPSIDC), municipal corporation and Avas Vikas Parishad. The second phase, which covers 7.3 km, is now dependent on the meeting to be held the coming week.
In September, the GDA requested the state government to bear 50% of the cost for Metro’s second phase. The remaining amount would be divided among the four development agencies.
The GDA said it single-handedly funded the first phase, costing around Rs 300 crore, and further raised reservations to fund Rs 815 crore second phase.
It must be noted GDA gets Rs 200-250 crore as infrastructure development fund every year, which is spent on other development projects too.
“If it’s decided we should not fund other projects, we may take the responsibility of funding the second phase. Otherwise, it will be difficult,” Chaudhary said.
According to sources, other agencies have shown reluctance in contributing fund for the second phase of the Metro project.