UP Govt may change funding pattern of 9.41km Ghaziabad Metro project
The additional chief secretary, PWD, said the existing funding pattern for the project will be altered both the Centre and state governments shall be involvedUpdated: Aug 19, 2017 22:00 IST
To streamline the 9.41km Ghaziabad metro project, the Uttar Pradesh government is now contemplating a change in the funding pattern. The plan to change the existing pattern of different UP agencies contributing funds in a fixed ratio was confirmed by additional chief secretary (public works department), Sadakant, who was in Ghaziabad on Friday for a review meeting on development schemes.
The under construction 9.41km route is slated to connect Delhi’s Dilshad Garden to New bus stand in Ghaziabad with eight stations on an elevated corridor
As of now, the Metro work is on, but paucity of funds might hinder its progress in the near future and the change in the funding pattern is hoping to address that.
The officer said the state government will amend the existing funding pattern and will involve the Centre and state and also seek loans from external agencies.
“In the present project (the 9.41km under construction route), the state government was not a party to provide funds. Big projects involve huge amounts and projects like the metro need the contribution from the Centre, state and external agencies. The pattern will be revised by the state government,” he said.
“The earlier pattern was hastily designed and different UP agencies were asked to contribute funds. Such projects cannot be run on such a funding basis. Unlike other Metro projects in UP, the state government is not providing funds for the Ghaziabad metro. So, there is a need to revise the pattern as other agencies have not been able to contribute much to the 9.41km project,” he said.
The total project cost for the 9.41km metro project is around Rs 2,210 crore, including a cost of Rs 1,479.6 crore to be shared by different UP agencies, including Ghaziabad development authority, UP Awas Vikas, UP state industrial development corporation (UPSIDC) and Ghaziabad municipal corporation.
The project is presently facing a fund crunch as its previous cost of Rs 1,770 crore was increased to Rs 2,210 crore and the revised detailed project report (DPR) is yet to be cleared by the UP cabinet. The clearance will enable the project to get a grant of Rs 402.4 crore from the Centre.
UP agencies such as the GDA has paid a majority of its Rs 695.8 crore share, while the other agencies — municipal corporation (Rs 246.35 crore), UP Avas Vikas (Rs 440.45 crore) and UPSIDC (Rs 97 crore)— are facing issues to fund the project.
First Published: Aug 19, 2017 22:00 IST