Greater Noida Metro plan set rolling

The Greater Noida Authority is exploring the option of handing over the Noida-Greater Noida Metro project to a private company.

At a high-level meeting on Tuesday,Greater Noida Authoritys top official Pramod Chand Gupta said they have asked Infrastructure Leasing and Financial Services to prepare a report on how to make the project economically viable. If work on the Metro project starts this fiscal,we should be able to complete it in two years, informed Gupta. The proposed Metro stations for Greater Noida include Knowledge Park,Pari Chowk,Alfa-1 Commercial,Amusement Park,Knowledge Park 4 and Boraki Railway Station.

We are looking at three models. One is to acquire the land and bear the whole cost of the project. The second is the BOT model in which we acquire land and construct the network while the other party bears the cost of rolling stock and maintenance. The third option is for us to acquire the land and rope in another authority like the DMRC or IL&FS to built and operate the project, said an official.

We will compare the feasibility and economic viability on the basis of detailed project plans submitted by DMRC and IL&FS. Our board meeting next month with decide the finer points of the project, added a senior official of the Authority. The total is expected to cost around Rs 5,000 crore.

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