NCRPB releases funds for Noida metro project.

The National Capital Region Planning Board (NCRPB) has begun to release funds for the Noida-Greater Noida Metro Project by disbursing the first loan instalment of Rs. 406 crore, giving a fillip to the speedy execution of the project.

The NCRPB had earlier sanctioned a loan of Rs. 1,587 crore to Noida Metro Rail Corporation (NMRC) for the 29.70km Noida-Greater Noida Metro Project that is estimated to cost Rs.5,533 crore. This 20-year loan, including a moratorium of five years for repayment of loan, carries an interest rate of 7 per cent per annum and an incentive of 0.25 per cent for timely repayment of instalments. The targeted date of completion of this section is April 2018.

Announcing the disbursement Member-Secretary, NCRPB, B. K.Tripathy said: “The Noida-Greater Noida Metro link is important to enable seamless travel in the National Capital Region, which the Board is committed to promote. Further release of funds to this important section depends on physical and financial progress of the section.”

“NCR Regional Plan-2021 emphasised the need for strengthening connectivity between NCR towns ,” Mr. Tripathy said.

THE HINDU