The RRTS is a first-of-its-kind, rail-based, high-speed regional transit system to be implemented in India. Once operational, it will be the fastest, most comfortable and safest mode of commuter transport in the National Capital Region (NCR).
Asian Development Bank (ADB) has declared in-principle nod by considering financing four metro rail projects and a Rs 30,000 crore rapid rail corridor between Delhi and Meerut as part of its effort to progress urban transport system in India.
Simultaneous discussion is going on with other multi-lateral funding agencies for co-financing of these large urban transport projects in India including Bhopal and Indore Metro projects, said ADB Director General (South Asia) Hun Kim.
In addition, other projects especially expansion of Chennai and Bengaluru Metro are also under consideration, he said at the Annual Meet of ADB. “ADB has in-principle agreed to finance these projects with the Centre, which is the guarantor. It depends on the client. If they complete the formalities, we’re ready to go (for final approval from the board),” he said.
Rapid rail project between Delhi and Meerut is 3 times faster than even metro. In past, ADB has funded Jaipur Metro and expansion of Mumbai Metro. Previously, the government approved construction of a Rs 30,274 crore worth RRTS to connect the national capital with Meerut through Ghaziabad (in Uttar Pradesh). The 82 kilometer-stretch will be covered in less than 60 minutes,
Kim emphasised that financing logistics projects will also be a priority area for the bank. He showed interest in huge investments and pointed to Vizag-Chennai and the Chennai-Kanyakumari industrial corridors where the bank is involved in financing preparation of the master plan.