In order to expedite the metro expansion plans in Noida and Greater Noida, the Noida authority has decided to form its own entity called Noida Metro Rail Corporation (NMRC).
The new venture will be different from the Delhi Metro Rail Corporation (DMRC), in the sense that the Noida authority will be the 100 per cent stake holder in NMRC. The idea is to focus on the rapid expansion of Metro rail network to the remotest of locations in Noida and Greater Noida and provide the residents with hassle-free and convenient public transport facility.
The proposed company will deal with all types of Metro constructions and will ensure better connectivity with the existing Metro network in Delhi-NCR region under Special Purpose Vehicle (SPV). Initially, authority will spend Rs 100 crore for its formation. The SPV is likely to start working before June this year, once the State Government gives a 'go-ahead'. The proposed SPV will also be responsible for 29.7 km Noida-Grater Noida elevated Metro corridor and Noida authority will bear the entire cost of Rs 5,064. The announcement to this effect was made by the authority officials in a joint meeting of Noida authority, Greater Noida authority and Yamuna authority on Monday.
Noida authority has also decided to give a nod to the proposed Botanical Garden-Kalindi Kunj Metro project by signing Memorandum of Understanding (MoU) with the DMRC. Rs 845 crore will be spent on this project and the cost will be borne by the Noida authority and the DMRC jointly. Apart from this, an SPV for transport buses will also be created with at a cost of Rs 100 crore that will monitor the movement of buses in and around the district. Authority will add additional 170 low-floor buses in its existing capacity also.
To ensure a pollution free journey to the local residents of the city, a cycling track of Rs 20 crore will also be constructed besides the key roads of the city as per cycle tracks of developed countries. The bank land areas along Yamuna and Hindon rivers will also be developed as tourism spots and both the authorities will spend Rs 100 crore separately for the purpose.
Rama Raman, Chief Executive Officer (CEO) of Noida and Greater Noida authorities said that both the authorities are set to provide better transport facility to the people living in the region and with the latest announcements, people will be able to avail Metro facility from their nearby locality. "As Noida and Greater Noida are expanding by leaps and bounds these days, it is the need of the hour to make public transport more convenient and easily available up to the last mile destination. The recent move to create NMRC will help in enhancing transport facility and will also ensure the development of the region," he said.