Categories: Business

ADB approved USD 1 billion loan for rapid transit system in India

The Asian Development Bank (ADB) has approved a USD 1 billion (Rs 7,485 crore) loan to construct the modern, high-speed 82-kilometre (Delhi – Meerut) Uttar Pradesh Regional Rapid Transit System (RRTS) in India. The transit system project aims to help decongest the city and improve regional connectivity by establishing transit options through densely populated sections of the NCR connecting Delhi to Meerut in Uttar Pradesh.

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About the Delhi-Meerut Regional Rapid Transit System:

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.
The 82-km Delhi-Meerut regional rapid transit system network is the first of three priority rail corridors in the country’s integrated transport network under the NCR regional plan 2021.
This project will finance the construction of railway tracks, station buildings, maintenance facilities and traction and power supply.
The system will use advanced, high technology signalling 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 USD 1.89 billion and co-financiers are expected to provide USD 1 billion of the total project cost of USD 3.94 billion.
The project is expected to deliver integrated transformational impacts and better urban environment through systematic urban and land use planning as well as reduced carbon dioxide emissions and air pollution.