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UP government paves way for ‘Noida Metro Rail Corporation’

UP government paves way for ‘Noida Metro Rail Corporation’
The company was announced to be registered at state corporate affairs department in Kanpur on Friday. With the formation of NMRC, authorities will ensure construction of 29.7-kilometre long metro line between Noida and Greater Noida and other stretches too.

The NMRC have been formed by Uttar Pradesh government, aiming to expedite metro expansion in the district as well as other parts of the western UP. In a joint meet earlier, both development authorities (Noida and Greater Noida) had announced to create NMRC under Special Purpose Vehicle (SPV) and had allocated Rs 1,000 crore for the same.

Around two years ago, both the authorities had announced that expansion of proposed metro route to Yamuna Expressway will be done under NMRC.

They had sent  the proposal to the state government and later to the state corporate affairs department for its incorporation.

Rama Raman, chairman-cum-CEO of Noida and Greater Noida authority, said the all the documents have been submitted and the department has approved the registration of NMRC.

‘Soon after the registration, we will hire competent staff, including the managing director, within a month,’ Raman said adding that a secretary level officer of the urban development ministry will head the NMRC as its chairperson.
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