New Delhi: The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Noida – Greater Noida Metro Rail Project covering a length of 29.707 k.m. Total completion cost of the project is Rs.5,503 crore.
Metro rail connection between NOIDA and Greater NOIDA will result into people being assured about their mobility and thus more people will like to move to these satellite towns of Delhi, thus decongesting Delhi. As a result, more residential and commercial complexes will develop in this region. With metro rail in place, there will be less vehicular traffic on roads leading to less congestion, less time and cost of journey, less consumption of fossil fuel and less environmental pollution. People of Noida-Greater Noida, which has a population of approx. 7.50 Lakhs and people of surrounding areas will be benefitted with this metro link.
Project will be implemented by Noida Metro Rail Corporation Limited, which will be a 50:50 jointly owned company of Govt. of India and Govt. of Uttar Pradesh. The existing Noida Metro Rail Corporation Limited (NMRCL) which is a State owned Special Purpose Vehicle (SPV) will be converted into a joint SPV of Government of India (Gol) and Government of Uttar Pradesh (GoUP), for implementation of the project.
The project would generate significant direct and indirect employment of skilled, semi-skilled and unskilled workforce. Substantial indirect employment will also be generated during construction and operation phases.
The project is scheduled to be completed by April, 2018 as per the Detailed Project Report (DPR). About 70% progress of civil work and 40% of overall financial progress of the project have been achieved.
Project will be covered under the legal framework of Central Metro Acts, Metro Railways (Construction of Works) Act, 1978 and the Metro Railways (Operation and Maintenance) Act, 2002, as amended from time to time.