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Equity infusion sought for orbital rail network to encircle Delhi

Envisaged for daily commuters,the orbital rail project encircling Delhi that will provide connectivity to the neighbouring states...

Envisaged for daily commuters,the orbital rail project encircling Delhi that will provide connectivity to the neighbouring states has moved a step closer to reality as the central urban development ministry has mooted a proposal for funds.

A special purpose vehicle,or a shell company will be formed soon,a senior ministry official said. We have asked the finance ministry for equity infusion which may come through in this budget, the official said. The equity infusion could be anywhere between Rs 20 crore to Rs 50 crore. The company will have six stakeholders: central ministries like urban development and railways,and the state governments of Delhi,Uttar Pradesh,Rajasthan and Haryana.

The project proposes to set up a rail rapid transit system along dedicated tracks. The rail system will be equipped with a modern communication system to enable safer,high-speed and high-frequency services. This includes lines from Delhi to Panipat,Bhagpat,Meerut ,Hapur,Khurja,Palwal,Rewari and Rohtak. The project will bring down the travelling time considerably.

The plan proposes to build nine new lines,including Panipat-Meerut,Sonepat-Gohana,Sonepat- Jhajjar,Jhajjar-Gurgaon-Faridabad and Meerut-Bhagpat-Sonepat. This will cost over Rs 14,000 crore. The first phase of the projects Delhi-Ghaziabad-Meerut corridor will be taken up soon,the official added. We have already asked agencies to prepare a detailed project report. The report will outline whether new tracks are required,the land acquisition estimates and the financial requirements. Indian Railways will be partnering this initiative, said the official.

The total project cost has been pegged at Rs 1,000 crore. For raising funds,we will approach global financing institutions like the World Bank and JICA,and others, said the official. The exact funding pattern will be determined at a later stage and is likely to involve contribution from all stakeholders. The project stems from a survey on a multi-modal transport plan carried out by the NCR board which recommended eight corridors under the Rapid Rail Transport System.

Tags:
  • delhi Haryana Rajasthan
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