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Home Banking & Finance

Tenders: ADB lends $1bn to Delhi-Meerut RRTS

Fiinews by Fiinews
August 19, 2020
in Banking & Finance, Projects, Tenders
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ADB-Press Release

Model of the high-speed Delhi–Meerut Regional Rapid Transit System.

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RRTS to use advanced signaling systems

The Asian Development Bank (ADB) has approved a US$1 billion loan to support the construction of the US$3.94 billion modern, high-speed Delhi–Meerut Regional Rapid Transit System, a first of its kind in India and a major initiative to decongest the National Capital Region (NCR).

The 82-km Delhi–Meerut regional rapid transit system (RRTS) network is the first of three priority rail corridors in the country’s integrated transport network under the NCR Regional Plan 2021.

The RRTS will finance the construction of railway tracks, station buildings, maintenance facilities, and traction and power supply, said ADB in a release on 18 August 2020.

The RRTS will use advanced, high technology signaling systems based on the latest standards and will have multimodal hubs to ensure smooth interchange with other transport modes.

The design of the stations will feature and consider the needs of the elderly, women, children, and differently-abled.

Financing for the project will be implemented in four tranches between August 2020 and May 2025. The Indian Government will provide US$1.89 billion and co-financiers are expected to provide US$1 billion of the total project cost of US$3.94 billion.

A US$3 million grant from ADB’s Japan Fund for Poverty Reduction will support various activities, including the provision of visual, hearing and mobility aids, such as wheelchairs for differently-abled persons.

Training for women and differently-abled on safe mobility and employment opportunities and behavioral change for public transport providers will also be given.

The project is expected to deliver integrated transformational impacts and a better urban environment through systematic urban and land use planning as well as reduced carbon dioxide emissions and air pollution.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

Delhi accounts for 37% of the population of the National Capital Region (NCR) of India. The transit system project aims to help decongest the city and improve regional connectivity by establishing transit options through the densely populated sections of the NCR connecting Delhi to Meerut in the state of Uttar Pradesh. 

“Efficient and integrated transport solutions are critical for managing the rapid urbanization and ensuring balanced urban development of the region,” said ADB Principal Transport Specialist Sharad Saxena.

“This project will also provide safe, reliable and seamless travel between Delhi and other NCR cities and pave the way for a paradigm shift in mobility across the NCR,” added Saxena. #ADB #metro #Delhi #Meerut #train #NCR /fiinews.com

Tags: Asian Development Bank
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