Centre agrees to have a 50% stake in Noida Metro, will also fund link to G Noida
The Noida Metro Rail Corporation (NMRC), the Uttar Pradesh government and the Union ministry of housing and urban affairs have signed a memorandum of understanding (MoU) for the 30km Noida-Greater Metro link.
The Uttar Pradesh government and the Union ministry will now have a 50:50 stake in the NMRC.
The NMRC also held its 15th board meeting in Sector 6 on Friday to decide the progress on the 30km Noida-Greater Noida Metro link, which is expected to be ready by April 2018.
“The Centre and the UP government have agreed to have a 50:50 stake in the NMRC. Now, the Centre will release ₹970 crore for the 30km Metro project, which has a budget of ₹5,503 crore. This is a big step as the Centre’s fund will give a much-needed boost to this ambitious project,” PD Upadhyay, executive director of the NMRC, said.
Now, the NMRC board will have five members each from the Centre and the UP government. Earlier, the NMRC managing director used to be the Noida chief executive officer and all its members were from the UP government.
“Now, the NMRC has become a joint venture of the state and the Centre and we will form our board again. The Centre will nominate five members and one of these members will be the chairman of the NMRC,” Upadhyay said.
The civil work on 30km Metro link, which will take Metro connectivity deeper into Noida
and Greater Noida areas, is complete.
The Delhi Metro Rail Corporation (DMRC) has completed 80% work of electrical and signalling work and has already started trial runs on this route, officials said.
The Uttar Pradesh Power Transmission Corporation Limited is scheduled to start supplying electricity to this route by March-end. Once the power supply is in place, the DMRC will start a full trial run.
The NMRC is in the process of hiring 744 persons for the link. It has already appointed 92 persons, who are being trained by the DMRC. The Delhi Metro has been hired by the NMRC for the construction and maintenance of this link.
“We have presented a ₹2,320 crore budget for fiscal 2018-19. We also discussed the details of the expenditure for the city bus service that will have 50 buses. We also discussed the details of funds, which were provided by the National Capital Region Planning Board,” Upadhyay said.
The NMRC was formed in November 2014 with a capital of ₹1,000 crore to build and maintain Metro rail projects in Uttar Pradesh, on the lines of the Delhi Metro Rail Corporation in the national capital.
Earlier, the UP government and the Noida authority had funded the 30km Metro project. Now, it will start getting Centre’s financial assistance and other auxillary support