New Delhi: To carry out construction of three Regional Rapid Transit System corridors connecting Delhi with Panipat, Alwar and Meerut, the Union Cabinet on Thursday approved constitution of National Capital Region Transport Corporation Limited (NCRTC).
The NCRTC would be formed under the Companies Act, 1956 with initial seed capital of Rs.100 crore for designing, developing, implementing, financing, operating and maintaining Regional Rapid Transit system (RRTS) in National Capital Region (NCR), an official statement released here said.
The corridors are being developed to provide comfortable and fast transit to NCR towns and meet the high growth in transport demand, the statement said.
As per the proposal approved by the cabinet, the NCRTC may form subsidiary companies for implementing each corridor.
The centre and the state governments would contribute equally to the initial seed capital of Rs 100. While the Urban Development and Railway ministries would contribute 22.5 percent of the amount, the National Capital Region Planning Board would contribute 5 percent.
The rest of the amount would be contributed by the state governments of Delhi, Haryana, Rajasthan and UP who would all pool in 12.5 percent each.
Officials said that while eight RRTS corridors have been identified earlier for development in the NCR area, the NCRTC will take up three prioritised corridors.
The first corridor Delhi - Sonipat - Panipat is 111 km long and the daily ridership is estimated to be 3.77 lakhs in 2016 which may grow to 9.83 lakhs by 2041.
The second corridor Delhi - Gurgaon - Alwar is 180 km long and estimated to carry 6.9 lakh people daily in 2016 which will go up to 15.1 lakh by 2041.
The third corridor Delhi - Ghaziabad - Meerut is 90 km long and would carry an estimated 5.7 lakh people everyday in 2016 and 11.4 by 2041. The total length of the three corridors to be developed by NCRTC is 381 km.