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BRICS bank lends USD 500 mn for Delhi-Ghaziabad-Meerut Rapid Rail

By TIOL News Service

NEW DELHI, NOV 19, 2020: THE New Development Bank (NDB) of the BRICS countries signed an agreement with the Indian government today to loan USD 500 million for the Delhi-Ghaziabad-Meerut Regional Rapid Transit System (RRTS) Project.

The loans, approved by the Shanghai-based bank in late September, will be used by the National Capital Region Transport Corporation Limited (NCRTC) for the construction of a rapid rail corridor connecting Delhi with the cities of Ghaziabad and Meerut.

The goal is to provide fast, reliable, safe and comfortable public transport system in the National Capital Region (NCR) which is among the world’s largest urban agglomerations and a major economic centre of India.

The daily passenger traffic along the Delhi-Ghaziabad-Meerut corridor is estimated at 690,000, of which 63% utilize private vehicles for commuting. Due to traffic congestion, it can take up to 4 hours to travel between Delhi and Meerut by road during peak hours.

The RRTS will have a total length of 82.15 km with 25 stations and operate at speeds up to 180 km per hour, reducing the commute time to an hour.

The fast transit system will also activate processes which will enable sustainable economic and social development with environmental protection. It will help in reducing population congestion by offering people the alternative.

Mr. Baldeo Purushartha, Joint Secretary, Department of Economic Affairs said, “Seamless high-speed connectivity will result in balanced economic development across the region leading to economic benefits to all strata of society and many nodes of development rather than all economic activity happening at one place”.

The funding will be provided to finance rolling stock for modern design, energy efficient operations and interoperability across corridors. The NDB funds will also be utilized for procuring signalling, telecommunication and train control system with advanced features such as automatic train operation, automatic train protection, automatic train supervision and integration with platform screen doors.

The total project cost is estimated at USD 3,749 million, which will be financed by the NDB (USD 500 million), Asian Infrastructure Investment Bank (USD 500 million), Asian Development Bank (USD 1,049 million), Japan Fund for Poverty Reduction (USD 3 million), and government and other sources (USD 1,707 million).

The NDB Board has also approved a loan of USD 241 million for the Mumbai Metro Rail II (Line 6) Project which will connect the western and eastern suburbs.


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