Rapid transport system in NCR takes a step ahead with formation of NCRTC

Company set up to plan, construct high speed rail corridors between Delhi and nearby areas

After the cabinet cleared the proposal on the formation of National Capital Region Transport Corporation (NCRTC) on July 11, a Memorandum and Articles of Association for setting up NCRTC has been signed between four states-Delhi, Haryana, Rajasthan and Uttar Pradesh, Ministry of Railways, National Capital Region Planning Board (NCRPB), Ministry of Urban Development and Government of India.

The company has been set up with the objective of planning and constructing high speed rail corridors between Delhi and nearby areas with the vision of enhancing connectivity and development in the NCR region.

The company will start with a share capital of Rs 100 crore with a 50:50 ownership between Central and State Government. MoUD and Ministry of Railways will have 22.5% equity each in the project, with 5% equity of NCRPB and four State Governments will have equity of 12.5% each.

Three priority corridors have been identified in the first phase for development. A 111-km stretch between Delhi-Soniapat-Panipat with an estimated cost of Rs 18,755 crore. A 180-km stretch between Delhi-Gurgaon-Alwar estimated to cost Rs 32,141 crore and a 90 km stretch between Delhi-Ghaziabad-Meerut estimated to cost Rs 21,274 crore. The total cost would be Rs 72,000 crore but is expected to rise because of the long gestation period of these projects

A total of 48 stations will be built on these corridors, with an expected ridership between four to seven lakh. The company is expected to complete these corridors through separate Special Purpose Vehicles or through Public Private Partnerships.

NCRPB had envisioned setting up of eight rapid transport corridors connecting NCR to nearby areas in its functional plan of 2023. The rapid transport system is expected to boost real estate and other development prospects in the expanding NCR region.