Delhi Mrts Gets Govt Approval
The government has given the go-ahead to the Rs 4860 crore (in the first phase) rail-based Mass Rapid Transit System (MRTS) for Delhi.
Minister of state for urban affairs and employment U Venkateswarlu told the Parliamentary consultative committee meeting attached to his ministry that substantial progress has been made in the preparatory work of the project, scheduled to be completed by March 31, 2005.
Notifications for acquisition of about 199 hectares out of a total of 220 hectares of private land required for MRTS have already been issued, he said yesterday.
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The Delhi Metro Rail Corporation (DMRC) Limited, a joint venture by the Centre and the Delhi government has already been set up for implementation of the project.
The Centre and the Delhi government are sharing the equity on equal sharing basis.
A loan agreement has been signed with OECF of Japan, which is extending a soft loan to meet 60 per cent of the project costs, Venkateswarlu said, adding the first phase of the project is estimated to cost about Rs 4860 crore.
A Rs 1000 crore 56 km expressway connecting Faridabad and Ghaziabad through Noida has been planned on the eastern fringe of the capital to act as an inter-city traffic bypass, he said.