Center approves Noida - Greater Noida Metro Rail Project

| Updated: May 25, 2017 03:07 IST

New Delhi [India], May 24 (ANI): The NDA Government in the Centre led by Prime Minister Narendra Modi on Wednesday approved the Noida - Greater Noida Metro Rail Project. This Metro line will cover a distance of 29.707 km and the competition of project will cost around Rs. 5,503 crore. The metro connectivity will led to settlement of more people in these areas thus decongesting Delhi. More residential and commercial complexes will develop in this region, which would led to less vehicular traffic on roads leading to less congestion, less time and cost of journey, less consumption of fossil fuel and less environmental pollution. The Project will be implemented by Noida Metro Rail Corporation Limited, which will be jointly owned company of the Government of India and Uttar Pradesh. The existing Noida Metro Rail Corporation Limited (NMRCL) which is a State owned Special Purpose Vehicle (SPV) will be converted into a joint SPV of the Centre and Uttar Pradesh for implementation of the project. The project is scheduled to be completed by April 2018 as per the Detailed Project Report (DPR). (ANI)

iocl