Part of funds for Karkardooma proj may be cancelled to delay

Taking a serious note of the delay in execution of a multi-storey office complex project in East Delhi, Urban Development Ministry today directed NCR Planning Board (NCRPB) to review loan extended for it.
Urban Development Secretary Rajiv Gauba, who chaired a meeting of 'Project Sanctioning and Monitoring Group' of NCRPB here, also indicated the first intallment of Rs 20 crore of the Rs 100 crore Karkardooma project could be cancelled in case of an adverse review.
"Gauba directed review of the loan sanctioned for the Rs 100 crore construction of multi-storied office building at Karkardooma institutional area in East Delhi for cancellation on account of lack of any progress since the sanction of first instalment of Rs 20 crore loan in 2013," an official release said.

The Group also declined to consider loan of Rs 270 crore as sought by the Haryana Metro Rail Transport Corporation for extension of Metro link from Mundka to Bahadurgarh on the ground that it was not in conformity with the original financing plan.
During the meet, Haryana was asked to resolve issues relating to Asian Development Bank (ADB) funded road projects before new projects being considered. Rajasthan also got Rs 1,664 crore loan assistance for infrastructure projects in Jaipur.
Underlining that Ministry has taken a serious view of delay in execution of projects in NCR that were extended financial support by the NCR Planning Board, Gauba made it clear that further sanction of loan support would be based on progress on projects.

During the meeting, the Group also warned the Haryana Government of reviewing the loan of Rs 168 crore sanctioned for the Rs 223-crore Manesar Water Supply Project if the works were not started at the earliest.

The first instalment of Rs 31.13 crore was released for this project last March and the Haryana State Industrial Infrastructure Development Corporation has not submitted any progress report so far, the release said.
The Group also approved financial assistance of Rs 1,664 crore for various infrastructure projects costing a total of Rs 2,377 crore.
With these approvals, the Board has sanctioned over Rs 4,500 crore of financial assistance for infrastructure development in NCR during the last two years.

Gauba asked the Rajasthan government and Jaipur administration to ensure promotion of non-motorised transport including cycling and pedestrianisation under Comprehensive Mobility Plan of the pink city which is being developed as a smart city.