LUCKNOW: UP cabinet on Thursday decided the funding pattern of the Metro rail between Noida and Greater Noida. Principal secretary Infrastructure & Industrial Development Department Surya Pratap Singh said a special purpose vehicle would be formed for development, operation and maintenance of the metro rail. 20% of project cost would be shared by Government of India. Of the rest, 20% will be covered by the UP government while remaining 60% funds would be arranged by borrowing from financial institutions.

Measuring 29.707 km of length the system will developed at the estimated project cost of Rs 5,064 crore. The Metro link is expected to be commissioned by 2017. Singh said, in view of enormous pressure of passenger traffic on Delhi-Noida route and projected population of over 15 lakhs in Noida and around 12 lakhs in Greater Noida by the year 2031, a clean and smooth public transport facility, matching the transport infrastructure of Delhi, is required urgently in the area.”

http://timesofindia.indiatimes.com/city/noida/Metro-to-ferry-lakhs-between-Noida-Gr-Noida/articleshow/23479465.cms

   ,