Noida-Greater Noida Metro gets Rs 406 crore boost from NCR Planning Board

NCRPB had earlier sanctioned a loan of Rs 1587 crore to Noida Metro Rail Corporation

National Capital Region Planning Board (NCRPB) has begun to release funds for the Noida-Greater Noida Metro Project by disbursing the first loan installment of Rs 406 crore, giving a fillip to speedy execution of this important metro project. NCRPB had earlier sanctioned a loan of Rs 1587 crore to Noida Metro Rail Corporation (NMRC) for the 29.70 km Noida-Greater Noida Metro Project that is estimated to cost Rs 5533 crore. This 20 year loan, including a moratorium of five years for repayment of loan carries an interest rate of 7% per year and an incentive of 0.25% for timely repayment of installments. The targeted date of completion of this section is April 2018.

Powered by Capital Market - Live News