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Urban development ministry keen to set up new firm for rapid rail in NCR

Real Estates in Delhi-NCR - Wednesday, July 3, 2013 10:43:50 AM

To expedite the ambitious rapid rail connectivity in the National Capital Region (NCR), the urban development ministry will soon seek Cabinet approval for setting of a company. To start with, the company which will execute the project will have a seed fund of Rs 100 crore.
All four NCR states – Delhi, Haryana, Uttar Pradesh and Rajasthan – will contribute 50% of this seed money for NCR Transport Corporation ( NCRTC) whereas Centre will put the rest.
“We have already got feedback from all other ministries and department concerned. Once the Cabinet puts its stamp, the company can come into operation within two months,” said an urban development ministry official. The company would be headed by a full-time managing director, who would be nominated by the urban development ministry.
The ministry in consultation with the state governments has finalized the three corridors for Rapid Rail Transit System (RRTS), costing around Rs 74,000 crore. Sources said the project is capital intensive since it includes investment for procuring high quality air-conditioned rail coaches.
So far, the alignment of Delhi-Panipat and Delhi-Alwar have been freezed. The elevated rail tracks would be built along the existing national highway corridors of Delhi-Alwar and Delhi-Meerut – totaling 318 km.

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