Delhi-Ghaziabad-Meerut Regional Rapid Transit System (RRTS) Project

#GS3 #Infrastructure #Development

 

The New Development Bank, also known as BRICS Bank has approved funds worth USD 741 million for infrastructure projects in India including Delhi-Meerut rapid rail and the Mumbai metro. 

  • NDB's Board of Directors approved a loan worth USD 500 million for the Delhi-Ghaziabad-Meerut Regional Rapid Transit System (RRTS) Project and a loan worth USD 241 million for the Mumbai Metro Rail II (Line 6) Project.
  • This was informed by the Shanghai-based bank in a press statement.

 

Delhi-Ghaziabad-Meerut Regional Rapid Transit System (RRTS) Project

  • BRICS' bank's loan amount for the Delhi NCR region will be used by the Indian Government for on-lending to the National Capital Region Transport Corporation Limited (NCRTC) for construction of a rapid rail corridor.
  • The rapid rail network will connect the National Capital Territory of Delhi with the cities of Meerut and Ghaziabad in Uttar Pradesh. 
  • The Regional Rapid Transit System (RRTS) will be at least 82.15km long, out of which 68.03km will be an elevated stretch and 14.12 will be underground with 25 stations.
  • It will also have a design speed of 180 km per hour and a maximum operating speed of 160 km per hour and high-frequency operations that will reduce the journey time from Delhi to Meerut to 60 minutes. 
  • The Project will help develop a sustainable regional transport system that will be safe, fast, reliable and comfortable.
  • It will also help reduce congestion in Delhi by offering people an alternative of settling in surrounding cities.

 

Mumbai Metro Rail II (Line 6) Project

  • The loan amount for Mumbai Metro will be used by the Indian government for on-lending to the Maharashtra state government for the construction of the metro rail Line 6 project.
  • The metro rail line 6 will have a length of about 14.47 km. It will provide much needed rail connectivity between the western and eastern suburbs.
  • It will also contribute towards an integrated seamless public transport network in Mumbai. 
  • The metro rail project will be implemented by the Mumbai Metropolitan Region Development Authority.
  • Besides this, the New Development Bank is also supporting the implementation of metro lines in Mumbai with length totaling to about 58 km (Line 2 and Line 7) by financing of the Mumbai Metro Rail Project approved by the bank in November, 2018.

 

What is NDB?

  • The New Development Bank was established by BRICS nations- Brazil, Russia, India, China and South Africa. 
  • The bank's main focus is to mobilize funds for sustainable development projects in BRICS countries and other emerging economies.
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