NEW DELHI (Metro Rail News): The New Development Bank (NDB) has approved USD 500 million for the Delhi-Ghaziabad-Meerut Regional Rapid Transit System (RRTS) Project and USD 241 million loans for Mumbai Metro. The two loans were approved by the NDB Board on Friday.
NDB is a Shanghai-based bank and set up by the BRICS (Brazil, Russia, India, China, South Africa). These two projects are doing an extensive infrastructure boost for India’s capital and its financial capital Mumbai.
The Mumbai Metro Loan of USD 241 million will be used for implementing a 14.47 km long metro rail Line 6 (Lokhandwala-Jogeshwari-Vikhroli-Kanjurmarg) in Mumbai.
The Mumbai Metro line 6 will improve the transport and traffic conditions in Mumbai by providing a modern metro system, featuring high-capacity, safe and comfortable mode of transport. Alos provide much-needed rail-based connectivity between the western and eastern suburbs, and will contribute towards an integrated seamless public transport network in Mumbai.
The Project will be implemented by the Mumbai Metropolitan Region Development Authority (MMRDA).
The NDB is supporting the implementation of metro lines in Mumbai with length totalling to about 58 km (Line 2 and Line 7) by the financing of the Mumbai Metro Rail Project approved by the NDB in November 2018, it said.
The NDB Board also approved a loan of USD 500 million for the Delhi-Ghaziabad-Meerut RRTS Project Which will give a boost for Delhi-Ghaziabad-Meerut RRTS Project.
The loan would be used by the National Capital Region Transport Corporation Limited (NCRTC) for construction of a rapid rail corridor connecting the National Capital Territory of Delhi with the cities of Ghaziabad and Meerut located in the state of Uttar Pradesh.
The RRTS will have a total length of 82.15 km (68.03 km elevated and 14.12 km underground) with 25 stations. It will have a design speed of 180 km per hour, maximum operating speed of 160 km per hour and high-frequency operations, which will reduce the journey time from Delhi to Meerut to 60 minutes.
The project will develop an efficient and sustainable regional transport system and reduce congestion in Delhi, by offering people the alternative of settling in surrounding cities and being able to commute to Delhi through a fast, reliable, safe and comfortable public transport system, it said.
The NDB was set up with an initial authorised capital of USD 100 billion by BRICS countries in 2014. It was officially opened in Shanghai in 2015. Since then it has been funding green infrastructure projects in all the five countries.
The NDB also approved a loan of EUR 100 million to the Black Sea Trade and Development Bank (BSTDB) for the Development of Russian Water Transport Sector and a two-step loan of USD 100 million to the Eurasian Development Bank (EDB) for the Toll Roads Programme in Russia and USD 100 million to the Eurasian Development Bank for the Water Supply and Sanitation Program in Russia.
The first look of RRTS (Regional Rapid Transit System) train was unveiled by the government on Friday. The train would connect Delhi-Meerut, via Ghaziabad. The RRTS train will cover 82 km long distance in an hour approximately. It will be first of its kind in India with a design speed of 180 kmph. However, the prototype is scheduled to roll off the production line in 2022.