New Development Bank (NDB) Signs Loan Agreement for Delhi-Ghaziabad-Meerut RRTS

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RRTS Train Design
RRTS

New Development Bank (NDB) approved USD 500 million (Approx. Rs. 3,700 crores) for Delhi-Ghaziabad-Meerut RRTS Project.

RRTS will enable a modal shift in favor of public transport leading to a significant reduction in pollution and congestion.

Civil Construction work is in progress on more then 50 km of the 82-km long Delhi-Ghaziabad-Meerut RRTS Corridor.

NEW DELHI (Metro Rail News): A loan agreement for USD 500 million (Approx. Rs. 3,700 crores) was signed today between Government of India and New Development Bank (NDB) for funding the Delhi-Ghaziabad-Meerut RRTS Corridor. The project agreement was signed by MoHUA, NCRTC, and NDB. The signatories of the agreement were Shri. Baldeo Purushartha, Joint Secretary (IPF&OMI), Department of Economic Affairs, Government of India, Shri Janardan Prasad, Director/Ministry of Housing and Urban Affairs, Government of India, Shri Vinay Kumar Singh, Managing Director, National Capital Region Transport Corporation (NCRTC) and Mr Xian Zhu, VP & Chief Operations Officer, NDB (Mr Zhu, signed the agreement digitally). The proceeds of this loan will be utilized to finance rolling stock, signalling system, operational structures, residences for operational staff, train control & telecommunication system and other miscellaneous works of the corridor.


Speaking on the occasion, Shri Vinay Kumar Singh, Managing Director, NCRTC, said, “NCRTC is committed towards Hon’ble Prime Minister’s vision of an Atmanirbhar Bharat. This is a unique multilateral funding arrangement that allows Make in India provision in procurements. This loan agreement with NDB will be a shot in the arm for NCRTC’s efforts of developing the indigenous capacity to create a new age infrastructure for the New India. With features like multi-modal integration and interoperability, RRTS will lead to polycentric development and significantly curb pollution and congestion in NCR by providing fast, reliable, secure, and all-weather connectivity.”

The RRTS project will develop an efficient and sustainable regional passenger transport system and reduce congestion by offering the public the alternative of settling in surrounding cities and being able to commute to Delhi through fast, reliable, safe, and comfortable public transportation system. Implementation of Delhi-Ghaziabad-Meerut RRTS Corridor will enable a modal shift in favour of public transport. It is expected that the share of public transport will move from 37% to 63% in the region, which ultimately helps in curbing congestion and pollution significantly.

The 82 km Delhi – Ghaziabad – Meerut RRTS corridor with a project cost of Rs. 30274 crores will be co-financed under the parallel financing arrangement with Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB). Earlier in September this year, a loan agreement of USD 500 million was signed with ADB for funding the Delhi-Ghaziabad-Meerut RRTS corridor.

The Delhi-Ghaziabad-Meerut RRTS Corridor will have a total of 24 stations and will be elevated for around 70.5 km and 11.5 km of its stretch will be underground. Civil construction work is in progress on more than 50 km of this 82 km long corridor. The 17-km long priority section between Sahibabad and Duhai of this corridor is scheduled to commence operations in 2023, the entire corridor will be opened to the public by 2025.
RRTS project will have many state-of-the-art technologies suitable for a design speed of 180 kmph such as ETCS Level-2 signalling systems, ballastless tracks, track fastening systems, and 100% made in India rolling stock. These technologies will be used in the country for the first time. The RRTS rolling stock is being designed and manufactured in Savli, Gujarat under Make-in-India initiative of the Government of India. Not only this, all three Phase-I RRTS corridors, Delhi-Ghaziabad-Meerut, Delhi-Gurugram-SNB-Alwar and Delhi-Panipat, will converge at Sarai Kale Khan in Delhi and will be interoperable. The RRTS stations will be seamlessly integrated with nearby transport modes such as Metro Stations, ISBTs, Railway Stations, and airports. This clean and green rail-based system will set a benchmark for similar future projects.

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