Funding plan chalked out for rapid transit corridors
PTI | 07:02 PM,Feb 15,2012New Delhi, Feb 15 (PTI) High speed connectivity between Delhi and its neighbourhood came a step closer to reality as the National Capital Region Planning Board (NCRPB) today proposed a funding plan for three vital Regional Rapid Transit System (RRTS) corridors. The three RRTS corridors for which the NCRPB suggested a funding plan are Delhi-Gurgaon-Alwar, Delhi-Sonepat-Panipat and Delhi-Ghaziabad-Meerut. The three projects jointly have a capital requirement to the tune of Rs 50,000 crore, sources said. The Regional Rapid Transit System (RRTS) is a rail based transit system and the Union Government had given in-principle approval to implementing it in the three corridors in November last year. Officials said that in a board meeting held today, the NCRPB proposed a funding plan that envisaged a mix of contributions from the Union and the state government, loans from multi lateral agencies and particpiation from the private sector. "The NCRPB has suggested formation of a company for the implemention of the projects and to meet the project cost, 30 per cent equity can be contributed by the central and state governments," a senior official who was present in the meeting said. "The NCRPB has suggested that of the rest of fund requirement 40 per cent of the fund be taken as loan from an international agency like the World Bank or Japan International Cooperation Agency (JICA) while 30 per cent invested by a private party," the official added. The NCRPB meeting was attended by secretary level officials from Delhi and the UP governments while an Additional Chief Secretary rank officer of Rajasthan and a Principal Secretary level officer from Haryana were present, officials said. Secretary Urban Development Sudhir Krishna and the NCRPB Member Secretary were also present in the meeting. MORE PTI ADS
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