New BRICS Development Bank approved two loans for Mumbai Metro and Delhi-Meerut RRTS
New Delhi:
The BRICS New Development Bank (NDB) has approved a loan of USD 241 million for the Mumbai metro and USD 500 million for the Delhi-Ghaziabad-Meerut Regional Rapid Transport System (RRTS) project.
Both loans were approved by the NDB board of directors, the BRICS (Brazil, Russia, India, China, South Africa) -based bank said in a statement.
The loan of 241 million USD for the Mumbai Metro Rail II project will be used for the implementation of a metro line 6 with a length of approximately 14.47 km in the city of Mumbai.
The Mumbai Metro Rail II project aims to improve the transport and traffic conditions of Mumbai by providing a modern metro system, with high capacity, safe and comfortable mode of transport, he said.
Line 6 will provide essential rail connectivity between the western and eastern suburbs, and will help build an integrated and seamless public transport network in Mumbai.
The project will be implemented by the Mumbai Metropolitan Region Development Authority.
The NDB is supporting the implementation of metro lines in Mumbai with a total length of approximately 58 km (lines 2 and 7) by funding the Mumbai metro project approved by the NDB in November 2018, he said. declared.
The NDB Board also approved a loan of USD 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 National Capital Territory 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 above sea level 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 project will develop an efficient and sustainable regional transport system and reduce congestion in Delhi, providing people with the opportunity to settle in the surrounding cities and be able to get to Delhi through a fast, reliable public transport system, safe and comfortable, he said.
The NDB was created with an initial authorized capital of 100 billion USD by the BRICS countries in 2014. It was officially inaugurated in Shanghai in 2015. Since then, it has financed 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 Road Program in Russia and USD 100 million to the Eurasian Development Bank for the water supply and sanitation program in Russia.
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