UP govt to finalise funding pattern for Metro link today
Officials of the Uttar Pradesh government are likely to finalise on Thursday the fund-sharing pattern of the R991 crore-second phase of Metro rail line extension in Ghaziabad.india Updated: May 30, 2012 23:49 IST
Officials of the Uttar Pradesh government are likely to finalise on Thursday the fund-sharing pattern of the R991 crore-second phase of Metro rail line extension in Ghaziabad.
Top officials will meet in Lucknow to decide the fund sharing arrangement between various agencies such as Ghaziabad Development Authority (GDA), municipal corporation, Avas Vikas Parishad and UP State Industrial Development Corporation (UPSIDC).
GDA vice-chairman Santosh Kumar Yadav said the meeting would be attended by top officials of the respective departments.
A tentative funding-pattern was sent to Lucknow after approval by the last GDA board meeting held in April.
According to the suggested pattern, GDA will bear around R466 crore while the municipal corporation, UP Avas Vikas Parishad and UPSIDC will contribute R165 crore, R195 crore and R165 crore respectively.
The 9.41-km route will have seven stations between Dilshad-Garden to New Bus Stand and is expected to cater to around 87,000 daily commuters. The total cost is around R1,591 crore, of which UP government agencies will bear R991 crore.
The GDA has also proposed several measures to generate funds for the Metro project.
GDA’s share will come from infrastructure-development funds, re-development charges collected from commercial and residential areas along the Metro route, conversion charges imposed for change of land use on sick industrial units, levying additional development charges and charges imposed on builders near the Metro route for extending floor-area-ratio.
The funding process has been stuck for more than a year. UP chief minister Akhilesh Yadav had recently told officials to expedite Metro’s second phase in Ghaziabad city.
The GDA has already cleared R60 crore for a Metro station at Loni, which is also part of the proposed route.
First Published: May 30, 2012 23:47 IST