NCRPB clears Rs. 5,533-cr metro project

Clearing yet another funding installment for the metro project in the Noida-Greater Noida metro corridor entailing a total investment of Rs. 5,533cr, the National Capital Region Planning Board (NCRPB) has recently cleared Rs. 406-cr for the expansion of the project in question. The latest financing move will give a fillip to the speedy execution of the project as the board had earlier sanctioned a loan of Rs. 1,587-cr to Noida Metro Rail Corporation (NMRC) for the 29.70 km Noida-Greater Noida Metro Project. This 20 year loan, including a moratorium of five years for repayment of loan, carries an interest rate of 7 per cent per annum and an incentive of 0.25 per cent for timely repayment of installments and the project is slated to be commissioned by April 2018.