A loan agreement for $500 million (approximately ₹3,700 crore) was signed recently between the Centre and New Development Bank for funding the Delhi-Ghaziabad-Meerut RRTS (regional rapid transit system) corridor.
According to a government statement, the proceeds of the loan will be utilised to finance rolling stock, signalling systems, operational structures, residences for operational staff, train control and telecommunication systems, and other miscellaneous works of the corridor.
The 82 km Delhi-Ghaziabad-Meerut RRTS corridor with a project cost of ₹30,274 crore will be co-financed under an parallel financing arrangement with Asian Development Bank (ADB) and Asian Infrastructure Investment Bank (AIIB). In September this year, a loan agreement of $500 million was signed with ADB for funding the RRTS corridor, according to a statement.
Civil construction work is in progress on more then 50 km of the 82 km long corridor. The RRTS corridor will have a total of 24 stations and will be elevated for around 70.5 km; 11.5 km of its stretch will be underground.
A 17 km long priority section between Sahibabad and Duhai of the corridor is scheduled to commence operations in 2023; the entire corridor will be opened to the public by 2025, the statement added.
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