Funding pattern of Greater Noida West metro project approved
The Noida Authority approved the funding pattern of Noida–Greater Noida Metro Rail Project at its Board meeting in Lucknow on Wednesday.
The 14.958 kilometre metro lines between Sector 71 to Knowledge Park 5 via Greater Noida West will be built at a cost of Rs 2,668.16 crore.
Around 10 per cent of the cost will be borne by Greater Noida Authority and five per cent by Noida Authority. Forty-five per cent of the cost will be taken as loan from banks, 12.95 per cent equity will be given by the central government and 12.95 per cent equity amount will be given by the state government.
The Noida Board has given approval for Rs 126 crore and Rs 81 crore for development of two metro stations.
The route will have nine stations -- two in Noida and seven in Greater Noida.
Projected date of project completion is 2020-21. Daily passenger volume is expected to be 1.23 lakh.
The project has been inaugurated by Uttar Pradesh Chief Minister Akhilesh Yadav on December 14.
It will be elevated metro rail on entire route. First station in Noida will be Sector 122 and second Sector 123. In Greater Noida, metro stations will be at Sector 4, Ecotech 12, Sector 2, Sector 3, Sector 10, Sector 12 and Knowledge Park.