‘Need for `innovative` funding for Metro projects’

Last Updated: Thursday, December 15, 2011 - 19:30

New Delhi: Urban Development Minister Kamal
Nath on Thursday batted for evolving "innovative" financial methods
either in PPP or fully private mode for funding Metro projects
in the country.

Nath also said the Centre has approved two more Metro
lines to Haryana with the nod being given to Badarpur-YMCA
Chowk corridor and Mundka to Bahadurgarh. The Detailed Project
Report for Dwarka Sec 21 to Gurgaon Sec 29 is under the
appraisal of the ministry, he said.

"We need to find innovative financial methods either in
PPP or fully private mode to fund Metro projects. Haryana has
taken the first step in giving a Metro project to private
company," he said at the MoU signing ceremony of Rapid Metro
between Delhi Metro, Haryana Government and his Ministry.

The Rapid Metro that connects the existing Sikanderpur
Metro station with the NH-8 is the first fully private-owned
Metro to be constructed in the capital.

The 5-km link to be constructed at a cost of Rs 1088 crore
will help lakhs of people, Nath said.

Under the MoU signed today, in the event of failure of the
private party to commission or operate the system in future,
the project would be taken over by the Delhi Metro.

Haryana Chief Minister Bhupinder Singh Hooda said plans
were afoot to expand the private Metro network to 20 kms of
the Millennium City.

Contending that organised and planned sub-urbanisation is
the way out now, Nath said the increased Metro network in the
capital is a major step towards that.

The Minister said he has convened a meeting of Chief
Ministers of NCR states on December 27 to evolve a plan for
the next five years.

"In the meeting, we will decide the plan for next five
years. Every state in NCR needs connectivity for their needs.
So we will discuss that there," he said.

PTI



First Published: Thursday, December 15, 2011 - 19:30

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