ADB approves $1 billion loan for Delhi-Meerut Regional Rapid Transit System construction1 min read . Updated: 18 Aug 2020, 05:50 PM IST
- The project aims to build a network of high speed commuter rail lines connecting Delhi with cities in the adjoining states
Phillipines-based Asian Development Bank (ADB) on Tuesday said it has approved $1 billion loan for construction of the modern, high-speed Delhi-Meerut Regional Rapid Transit System (RRTS) in India.
RRTS project aims to build a network of high speed commuter rail lines connecting Delhi with cities in the adjoining states. The 82-kilometre Delhi-Ghaziabad-Meerut RRTS will be implemented in phases between the cities. The trains will reduce travel time from Delhi to Meerut to less than an hour.
The financing for the project will be implemented in four tranches between August 2020 and May 2025. The government will provide $1.89 billion and co-financiers are expected to provide $1 billion of the total project cost of $3.94 billion, an official statement said.
A $3 million grant from ADB’s Japan Fund for Poverty Reduction will support various activities, including provision of visual, hearing and mobility aids, such as wheelchairs for differently abled persons. Training for women and differently abled on safe mobility and employment opportunities and behavioral change for public transport providers will also be given, it said.
“Efficient and integrated transport solutions are critical for managing the rapid urbanization and ensuring balanced urban development of the region" ADB Principal Transport Specialist Sharad Saxena said.
“This project will also provide safe, reliable and seamless travel between Delhi and other NCR cities and pave the way for a paradigm shift in mobility across the NCR," Saxena said.
The Delhi–Meerut RRTS network is the first of three priority rail corridors in the country’s integrated transport network under the NCR Regional Plan 2021. This project will finance the construction of railway tracks, station buildings, maintenance facilities, and traction and power supply.