The BRICS New Development Bank (NDB) approved a loan of USD 241 million for the Mumbai metro and USD 500 million for the Delhi-Ghaziabad-Meerut Regional Rapid Transit System (RRTS) project. The two loans were approved by the board of directors of NDB, the Shanghai-based bank created by the BRICS (Brazil, Russia, India, China, South Africa) said in a statement Friday. Both projects are seen as a huge boost to the infrastructure of India’s capital and its financial capital, Mumbai.
The $ 241 million loan for the Mumbai Metro Railway II Project will be used for the purpose of implementing a 6 rail metro line with a length of approximately 14.47 km in the city of Mumbai.
the The Mumbai Metro Rail II project aims to improve Mumbai’s transport and traffic conditions by providing a modern metro system, offering a high-capacity, safe and comfortable mode of transport, he said.
Line 6 will provide much needed rail connectivity between the western and eastern suburbs, and will contribute to an integrated and seamless public transport network in Mumbai.
The project will be implemented by the Mumbai Metropolitan Area Development Authority.
The NDB is supporting the implementation of metro lines in Mumbai with a total length of approximately 58 km (Line 2 and Line 7) by funding the Mumbai metro rail project approved by the NDB in November 2018, has t -he declares.
Massive boost for the RRTS Delhi-Ghaziabad-Meerut project
The NDB Board also approved a loan of $ 500 million for the RRTS Delhi-Ghaziabad-Meerut project.
The loan would be used by the National Capital Region Transport Corporation Limited (NCRTC) for the construction of a rapid rail corridor connecting the territory of the national capital of Delhi to the cities of Ghaziabad and Meerut located in the state of Uttar Pradesh.
The RRTS will have a total length of 82.15 km (68.03 km in height and 14.12 km underground) with 25 stations. It will have a design speed of 180 km per hour, a maximum operating speed of 160 km per hour and high frequency operations, which will reduce the travel time from Delhi to Meerut to 60 minutes.
The RRTS project is a game-changer for cities like Ghaziabad and Meerut
The project will develop an efficient and sustainable regional transport system and reduce congestion in Delhi, offering people the option of settling in surrounding cities and being able to get to Delhi via a fast, reliable, safe and comfortable public transport system, he said.
The NDB was established with an initial authorized capital of 100 billion USD by the BRICS countries in 2014. It was officially opened in Shanghai in 2015. Since then, it has been funding green infrastructure projects in the five countries.
The NDB also approved a 100 million euro loan to the Black Sea Trade and Development Bank (BSTDB) for the development of the Russian water transport sector and a two-stage loan of 100 million dollars to the Eurasian Development Bank (EDB) for the toll. Road program in Russia and USD 100 million to the Eurasian Development Bank for the water supply and sanitation program in Russia.
This is what the RRTS Delhi-Ghaziabad-Meerut train would look like
The first glimpse of the RRTS (Regional Rapid Transit System) train was unveiled by the government on Friday. The train would connect Delhi-Meerut, via Ghaziabad. The RRTS train will travel 82 km in length in about an hour. It will be the first of its kind in India with a design speed of 180 km / h. However, the prototype is expected to roll off the production line in 2022.
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