Ghaziabad authority won’t let Metro plan suffer for funds
The Delhi Metro’s extension line here would not to be allowed to suffer from any financial crunch created by the state government agencies involved in the project, said Ghaziabad Development Authority (GDA) vice-chairman Vijay Kumar Yadav.
If needed, the GDA would seek a loan from financial institutions, Yadav said, and added that as per the rough estimates, the Metro extension line would need Rs 500 to Rs 600 crore.
The funding pattern and the MoU with the DMRC that were approved by the state cabinet have faced
hurdles with the Uttar Pradesh State Industrial Development Corporation, the Municipal Corporation and Housing Board not contributing their share of the funds.
“If we smell a fund crunch, as is being published in media frequently, we would go to seek loan from financial institutions. According to our rough estimate we may need Rs 500 to Rs 600 crore if hurdles come in our way due to procedural technicalities in obtaining NOC from different departments,” he said.
“Again our revised DPR is still lying pending at Lucknow for cabinet approval for want of comments from these contributory agencies from over last six months. Once it is cleared from cabinet, about Rs 300 crore share from the central government would come to our coffer,” the GDA officer said.
He added that even if the shortage is felt, the Metro construction work would not stop and will be completed by the December 2017 deadline.