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Fund crunch hits GDA's ambitious Metro Rail project

IANS  |  Ghaziabad 

The Development Authority (GDA) is yet to receive its share of funds from the Centre and other agencies for the Metro Rail extension project from Dilshad Garden to New Bus Stand here.

The Union Government returned the request to share its contribution for want of state Cabinet's approval of the revised detailed project report (DPR), which has been lying in Lucknow awaiting clearance for over two months now.

Owing to this and other procedural delays, the cost of the Rs 1,770-crore project has now escalated to over Rs 2,200-crore.

"We sent the revised DPR to the central government seeking their contribution, as per the MoU with the DMRC. But, the Central government asked to send the revised DPR approved by the state Cabinet," said Chief Architect & Town Planner (CATP) Ishtiyaque Ahmad.

"About two months ago, we had sent the revised DPR to the state Cabinet, but it has not been approved so far," said Ahmad.

Even the Avas Vikas Parishad has not disbursed its share of Rs 400 crore after initial payment of Rs 50 crore, leading to further shortage of funds. The GDA changed the Avas Vikas Parishad land use from residential to commercial, as they promised to pay the money after the change in their land use.

"They promised that they will pay from the funds to be generated from the sale of their commercial properties. But, now even they are non-committal on paying their share," the GDA officer said.

The funding pattern and the MoU with the DMRC were approved by the state Cabinet, but the other contributing agencies, like UPSIDC, Municipal Corporation and the Housing Board, have also not made fund disbursals, he said.

The work visible at the site now involves just a small part of the total estimated cost, given that major expenditure-incurring works lie ahead, including buying the trains, which would constitute 60 per cent of the total project cost.

So, for now, it is unlikely that the project would be ready on the stipulated time -- December 2016. In all probability, the project would be completed by the next Uttar Pradesh government only.

--IANS

sps/nir/dg

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Fund crunch hits GDA's ambitious Metro Rail project

The Ghaziabad Development Authority (GDA) is yet to receive its share of funds from the Centre and other agencies for the Delhi Metro Rail extension project from Dilshad Garden to New Bus Stand here.

The Development Authority (GDA) is yet to receive its share of funds from the Centre and other agencies for the Metro Rail extension project from Dilshad Garden to New Bus Stand here.

The Union Government returned the request to share its contribution for want of state Cabinet's approval of the revised detailed project report (DPR), which has been lying in Lucknow awaiting clearance for over two months now.

Owing to this and other procedural delays, the cost of the Rs 1,770-crore project has now escalated to over Rs 2,200-crore.

"We sent the revised DPR to the central government seeking their contribution, as per the MoU with the DMRC. But, the Central government asked to send the revised DPR approved by the state Cabinet," said Chief Architect & Town Planner (CATP) Ishtiyaque Ahmad.

"About two months ago, we had sent the revised DPR to the state Cabinet, but it has not been approved so far," said Ahmad.

Even the Avas Vikas Parishad has not disbursed its share of Rs 400 crore after initial payment of Rs 50 crore, leading to further shortage of funds. The GDA changed the Avas Vikas Parishad land use from residential to commercial, as they promised to pay the money after the change in their land use.

"They promised that they will pay from the funds to be generated from the sale of their commercial properties. But, now even they are non-committal on paying their share," the GDA officer said.

The funding pattern and the MoU with the DMRC were approved by the state Cabinet, but the other contributing agencies, like UPSIDC, Municipal Corporation and the Housing Board, have also not made fund disbursals, he said.

The work visible at the site now involves just a small part of the total estimated cost, given that major expenditure-incurring works lie ahead, including buying the trains, which would constitute 60 per cent of the total project cost.

So, for now, it is unlikely that the project would be ready on the stipulated time -- December 2016. In all probability, the project would be completed by the next Uttar Pradesh government only.

--IANS

sps/nir/dg

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Fund crunch hits GDA's ambitious Metro Rail project

The Development Authority (GDA) is yet to receive its share of funds from the Centre and other agencies for the Metro Rail extension project from Dilshad Garden to New Bus Stand here.

The Union Government returned the request to share its contribution for want of state Cabinet's approval of the revised detailed project report (DPR), which has been lying in Lucknow awaiting clearance for over two months now.

Owing to this and other procedural delays, the cost of the Rs 1,770-crore project has now escalated to over Rs 2,200-crore.

"We sent the revised DPR to the central government seeking their contribution, as per the MoU with the DMRC. But, the Central government asked to send the revised DPR approved by the state Cabinet," said Chief Architect & Town Planner (CATP) Ishtiyaque Ahmad.

"About two months ago, we had sent the revised DPR to the state Cabinet, but it has not been approved so far," said Ahmad.

Even the Avas Vikas Parishad has not disbursed its share of Rs 400 crore after initial payment of Rs 50 crore, leading to further shortage of funds. The GDA changed the Avas Vikas Parishad land use from residential to commercial, as they promised to pay the money after the change in their land use.

"They promised that they will pay from the funds to be generated from the sale of their commercial properties. But, now even they are non-committal on paying their share," the GDA officer said.

The funding pattern and the MoU with the DMRC were approved by the state Cabinet, but the other contributing agencies, like UPSIDC, Municipal Corporation and the Housing Board, have also not made fund disbursals, he said.

The work visible at the site now involves just a small part of the total estimated cost, given that major expenditure-incurring works lie ahead, including buying the trains, which would constitute 60 per cent of the total project cost.

So, for now, it is unlikely that the project would be ready on the stipulated time -- December 2016. In all probability, the project would be completed by the next Uttar Pradesh government only.

--IANS

sps/nir/dg

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

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