Noida – Greater Noida Metro Rail Project approved by Cabinet

Noida - Greater Noida Metro Rail Project approved by Cabinet

Question: The Noida city, located in Gautam Buddha Nagar District of Uttar Pradesh State, was created under …
(a) the Uttar Pradesh Industrial Area Development Act.
(b) The Industries (Development and Regulation) Act, 1951.
(c) Special Economic Zones Act, 2005
Ans: (a)

  • On May 24, 2017, the Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the Noida – Greater Noida Metro Rail Project covering a length of 29.707 k.m. Total completion cost of the project is Rs. 5,503 crore.
  • Project will be implemented by Noida Metro Rail Corporation Limited, which will be a 50:50 jointly owned company of Govt. of India and Govt. of Uttar Pradesh.
  • The existing Noida Metro Rail Corporation Limited which is a State owned Special Purpose Vehicle (SPV) will be converted into a joint SPV of Government of India and Government of Uttar Pradesh for implementation of the project.
  • The project is scheduled to be completed by April, 2018 as per the Detailed Project Report (DPR). About 70% progress of civil work and 40% of overall financial progress of the project have been achieved.
  • Project will be covered under the legal framework of Central Metro Acts, Metro Railways (Construction of Works) Act, 1978 and the Metro Railways (Operation and Maintenance) Act, 2002, as amended from time to time.
  • The Noida city is located in Gautam Buddha Nagar district of Uttar Pradesh State. It was created under the Uttar Pradesh Industrial Area Development Act. Noida has a potential of about 10,000 industrial units and presently about 7,500 are developed and functional.
  • Noida provides employment to over 2,00,000 in the region with these industrial units.
  • Noida mainly has road linkages with Delhi and the adjoining areas of Uttar Pradesh and Haryana State. Noida does not have a railway station and the nearest railway station is Hazarat Nizamuddin, which is at a distance of about 15 km. The nearest airport from Noida is Delhi Airport which is about 30 km away Noida.

Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=162103
http://www.thehindubusinessline.com/economy/logistics/govt-approves-noidagreater-noida-metro-rail-project/article9711685.ece