Ghaziabad authority likely to put in Rs40 crore for rapid transit project
The RRTS project, scheduled to be completed by 2024, is aimed at providing speedy train connectivity among Delhi, Ghaziabad and Meerut.Updated: Mar 06, 2018 23:05 IST
The state government has directed the Ghaziabad Development Authority (GDA) to contribute around Rs40 crore in the current financial year for the proposed regional rapid transit system (RRTS) project. Work on the Delhi-Ghaziabad-Meerut route under Phase-1 of the RRTS is likely to start in July.
The RRTS project, scheduled to be completed by 2024, is aimed at providing speedy train connectivity among Delhi, Ghaziabad and Meerut.
GDA officials on Tuesday said they have received a demand for around Rs40 crore in the current financial year for the RRTS project. The authority is already burdened as it is contributing a major share for the 9.41km Metro extension from Dilshad Garden to New Bus Stand, officials said.
“A demand for funds towards the RRTS project has been received from the state government. The authority has been asked to contribute around Rs40 crore while the Meerut development authority has been asked to pay Rs10 crore,” VN Singh, chief engineer, GDA, said.
“The exact amount to be borne by the authorities is still not clear and it will be decided by the government in the due course of time. We have been asked to contribute and we are arranging for funds,” he said.
The Rs32,500 crore project will get 60% of funding in the form of debt from the Department of Economic Affairs. While one half of the remaining 40% of the cost will be borne by the Centre, the other half will be shared equally by the state agencies of Delhi and Uttar Pradesh.
According to GDA officials, the UP government’s financial liability to the project will be in the form of share towards equity and subordinated debt for Central taxes and the land. Earlier, in the Union Budget, the Central government also allocated a sum of Rs659 crore for the project while the UP government had allocated Rs250 crore in its budget for 2018-19.
The National Capital Region Transport Corporation (NCRTC) — the agency tasked with executing the RRTS project — has decided that work on the project will be started from a 16.5km stretch, from Sahibabad to Duhai in Ghaziabad.