Government of Uttar Pradesh gets detailed project reports (DPRs) of two proposed metro corridors – Vaishali to Mohan Nagar and Noida Electronic City to Sahibabad by The Ghaziabad Development Authority (GDA) on Tuesday for approval. Delhi Metro Rail Corporation (DMRC) prepared the Both DPRs after several round deliberations with GDA.
The GDA (Ghaziabad Development Authority) has also asked the Government to reform the funding model of the metro rail projects. The authority has recommended that projects be financed in a manner that 20% of the total cost is borne by Central Government, 50% by the State Government and the remaining 30% by agencies like GDA, Ghaziabad Municipal Corporation (GMC), Uttar Pradesh State Industrial Development Corporation (UPSIDC) and Uttar Pradesh Housing Board (UPHB).
The total project cost of both corridors is tightened to Rs 3,325 crore, according to the detailed project report (DPR). Out of, Rs 1,808 crores is estimated for Vaishali – Mohan Nagar corridor and Rs 1,517 crore is estimated for Noida Electronic City – Sahibabad corridor. Kanchan Verma, Vice-Chairperson, GDA said:
It has been made clear that the GDA is facing a financial crisis and is in no position to fund the two proposed metro corridors. The DMRC had suggested that 74% of the total cost of each project be shared by the state and 17% by the Centre. The remaining cost will be adjusted with the land price and taxes.
“While forwarding the DPRs to state government, we suggested the funding model in the 5:3:2 ratio, which means that 50% of the cost will be shared by UP government, 30% by agencies, like GDA, UPSIDC and UP Housing Board and 20% by the government of India”, she added.