Funding pattern for Ghaziabad Metro okayed
At a high-level meeting in Lucknow on Thursday, senior officials of the Uttar Pradesh government finalised the funding pattern of R991 crore for the second phase of Metro extension in Ghaziabad.india Updated: May 31, 2012 23:49 IST
At a high-level meeting in Lucknow on Thursday, senior officials of the Uttar Pradesh government finalised the funding pattern of R991 crore for the second phase of Metro extension in Ghaziabad.
The state’s share of Rs. 991 crore will now be borne collectively by various agencies such as the Ghaziabad Development Authority (GDA), Avas Vikas Parishad, Ghaziabad municipal corporation and UP State Industrial Development Corporation (UPSIDC).
GDA vice-chairman Santosh Kumar Yadav said that the authority will contribute nearly R496 crore. Other agencies such as the Avas Vikas Parishad, municipal corporation and UPSIDC will contribute around R265 crore, R165 crore and R65 crore respectively, he added.
The total cost of the project is around R1591 crore.
The second phase will entail construction of an elevated 9.41km Metro line between Dilshad Garden Metro station in Delhi to New Bus Stand area in Ghaziabad with seven stations and will cater to nearly 87,000 people.
The fate of fund sharing had been hanging fire for over a year as there was no consensus between the agencies on fund sharing. After a change of regime, GDA officials had sent a revised pattern to state officials in the first week of May.
The finalised funding pattern will now go to the UP Cabinet after which an MoU will be signed between the UP government and the Delhi Metro Rail Corporation.