The Union Cabinet is going to clear the path for Noida Metro project on receiving Rs 1,000 crore from the Centre’s equity fund.
The project is in the advanced stage of construction and scheduled to be complete by the end of 2017. The Cabinet is ready to give its formal approval on the project to increase the pace of construction without facing any financial crunch.
The Noida Metro project, named as the Aqua line project, has planned to connect Greater Noida with rest of NCR (National Capital Region). The project was started with a proposed budget of Rs 5,533 crore set by Noida Metro Rail Corporation (NMRC).
The Aqua line project starts at Sector 71 and will link with Blue line extension which is developed by Delhi Metro between Sector 62 and Noida City Centre. In November 2014, the special purpose vehicle was set up to implement this project. The National Capital Regional Planning Board has given financial assistance of Rs 1,587 crore to the Metro corridor at subsidised rate.
Source: ET Realty