ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Market ends with marginal cuts this week; FMCG gains, Consumer Durables decline—What should investors do on Monday?
  • Investors with short term view must book profits now; import duty hike, rupee weakness may arrest price correction, temporarily
  • Virtual Digital Assets: VDAs to attract 1% TDS from today; know what CBDT says about new norms
  • Maruti Suzuki, Ashok Leyland: What makes brokerages bullish on these auto stocks?
  • Monsoon session of Parliament to begin on July 18; to end on August 12
Read in App
Business News » India News

ADB plans to fund Rs 30,000 cr Delhi-Meerut rapid rail corridor, 4 metro projects

Asian Development Bank (ADB) has given in-principle nod for financing four metro rail projects and a Rs 30,000 crore rapid rail corridor between Delhi and Meerut.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
ADB plans to fund Rs 30,000 cr Delhi-Meerut rapid rail corridor, 4 metro projects
In addition, other projects especially expansion of Chennai and Bengaluru Metro are also under consideration. RRTS photo

Asian Development Bank (ADB) has given in-principle nod for financing four metro rail projects and a Rs 30,000 crore rapid rail corridor between Delhi and Meerut as part of its effort to improve urban transport system in India. Simultaneous discussion is going on with other multi-lateral funding agencies for co-financing of these large urban transport projects in India including Bhopal and Indore Metro projects, ADB Director General (South Asia) Hun Kim said Wednesday.

In addition, other projects especially expansion of Chennai and Bengaluru Metro are also under consideration, he said at the Annual Meet of ADB here. "ADB has in-principle agreed to finance these projects with the Centre, which is the guarantor. It depends on the client. If they complete the formalities, we're ready to go (for final approval from the board)," he said. ADB has funded Jaipur Metro and expansion of Mumbai Metro in the past. On rapid rail project between Delhi and Meerut (in Uttar Pradesh), Kim said Regional Rapid Transport System (RRTS) is a huge project and ADB is looking to co-finance with other multi-lateral funding agencies including Asian Infrastructure Investment Bank.

Earlier this year, the government approved construction of a Rs 30,274 crore worth RRTS to connect the national capital with Meerut through Ghaziabad (in Uttar Pradesh). The 82 kilometer-stretch will be covered in less than 60 minutes. The RRTS is a first-of-its-kind, rail-based, high-speed regional transit system to be implemented in India. Once operational, it will be the fastest, most comfortable and safest mode of commuter transport in the National Capital Region (NCR). Kim emphasised that financing logistics projects will also be a priority area for the bank. "We want to be a bank for logistics," he said, pointing to the Vizag-Chennai and the Chennai-Kanyakumari industrial corridors where the ADB is involved in financing preparation of the master plan.

Meanwhile, Tamil Nadu is emerging as a major "client" of the bank, he said, adding the bank is planning to lend USD 500 million each for energy projects, and the Chennai Metro Phase II.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Rapid rail transit system
Written By: PTI
Updated: Wed, May 01, 2019
04:07 pm
Nadi, PTI

LATEST NEWS

Stock market on Monday: Market may continue its volatile trade, believes Anil Singhvi - crude, rupee movement key monitorable

Maruti Suzuki, Ashok Leyland: What makes brokerages bullish on these auto stocks?

Food labelling rules for online food delivery platforms like Zomato, Swiggy changed from today; compliance failure to invite action

UPI transactions remain above Rs 10 lakh crore in June for second month in a row: NPCI data

Stocks to Buy: Vikas Sethi recommends IDFC from F&O, Indo count from Cash Market; know why?

Virtual Digital Assets: VDAs to attract 1% TDS from today; know what CBDT says about new norms

Two-wheeler maker Hero MotoCorp sales up 3% in June at 4,84,867 units

Gold Price Today: Investors with short term view must book profits now; import duty hike, rupee weakness may arrest price correction, temporarily

Battery startup Log9 Materials showcases EVs for last-mile delivery at Green Vehicle Expo

YouTube's new tools to combat comment spam, account imitators

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV