ADB approves $1bn loan for Delhi-Meerut RRTS network in India

ADB

August 21, 2020 – The Asian Development Bank (ADB) has approved a $1bn loan to fund the construction of $3.94bn Delhi-Meerut Regional Rapid Transit System (RRTS) network in India.

 

The funding, which will be implemented in four tranches between August 2020 and May 2025, will be used by National Capital Region Transport Corporation (NCRTC), a joint sector company of Government of India and states of Delhi, Haryana, Rajasthan and Uttar Pradesh, to support the construction of the Delhi-Meerut RRTS network.

 

NCRTC is responsible for implementing the RRTS project across the National Capital Region (NCR) of India.

 

The 82km transit system project, which runs from NCR connecting Delhi to Meerut in the state of Uttar Pradesh, is aimed to improve the regional connectivity.

 

ADB principal transport specialist Sharad Saxena said: “Efficient and integrated transport solutions are critical for managing the rapid urbanisation and ensuring balanced urban development of the region.

 

“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.”

 

The project is backed by $1.89bn in financing from the Government of India and $1bn from co-financiers.

 

ADB said that a further $3m grant from its Japan Fund for Poverty Reduction will be used for the project’s various activities, including the provision of visual, hearing and mobility aids, such as wheelchairs.

 

The project involves the construction of railway tracks, station buildings, maintenance facilities, and traction and power supply.

 

Featuring advanced, high technology signalling systems, the RRTS will have multimodal hubs to ensure smooth interchange with other transport modes.

Source:-https://www.worldconstructionnetwork.com/news/adb-approves-1bn-loan-for-delhi-meerut-rrts-network-in-india/

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