New Delhi (Metro Rail News) – Asian Development Bank (ADB) ratified a loan of Dollar 1 Billion for the construction of Delhi Meerut Regional Rapid Transit System. It is of 82 kilometres network which will be first of the three priorities of the country’s integrated transport network under the NCR Regional Plan 2021. The project financing will get its pace in four tranches between August 2020 and May 2025.
In this Project, $ 1.89 Billion will be given by the Government of India and co-financers are expected to provide $ 1 Billion of the total project cost of $3.94 billion, the multilateral development bank said in a statement on Tuesday.
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Various activities will be supported by the ADB’s Japan Fund for Poverty Reduction. It includes provision of visual, hearing and mobility aids, such as wheelchairs for differently abled persons.
The project will get it appliance by the NCR Transport Corporation under the Ministry of Housing and Urban Affairs. It will finance the construction of railway tracks, station buildings, maintenance facilities and power supply.
This project will help to improve the regional connectivity by establishing transit options through the densely populated sections of the NCR connecting Delhi to Meerut in the state of Uttar Pradesh.
According to ADB’s principal transport specialist Sharad Saxena, “Efficient and integrated transport solutions are critical for managing the rapid urbanization and ensuring balanced urban development of the region. This project will also provide safe, reliable and seamless travel between Delhi and other NCR cities and pave the way for a paradigm shift in mobility across the NCR.”