ADB provides loan for Delhi-Meerut RRTS Corridor
To build a high-speed 82-km Delhi-Meerut regional rapid transit system (RRTS) corridor, India and Asian Development Bank (ADB) signed a 500-million-dollar loan on September 8, 2020. This will improve regional connectivity and mobility in the Delhi-NCR region. The corridor connects Sarai Kale Khan, Delhi to Modipuram, Meerut. The corridor will reduce the journey time to one hour from current three to four hours.
- The project is going to be implemented by National Capital Region Transport Corporation (NCRTC).
- Central and the State Governments jointly holds the ownership.
- Coaches of the train will be manufactured by Bombardier Transportation of India, Gujarat.
- Total cost of the project is $3.94 billion.
- The Regional Rapid Transit System (RRTS) had identified 8 corridors in total but out of 8, only 3 corridors were prioritized under the NCR Regional Plan 2021 as of now. These includes Delhi-Ghaziabad-Meerut, Delhi-Panipat, Delhi-Gurugram-SNB-Alwar.
What is RRTS?
RRTS is a high speed, high capacity, comfortable commuter service that will connect the regional nodes in Delhi NCR region. It is different from conventional Railway in the manner that it provides reliable, high frequency and point to point regional travel at high speed along a dedicated path way. It is also different from metro as carries passengers who look to travel longer distance with fewer stops.
The Asian Development Bank is a regional development bank that was established on December 19, 1966. It is headquartered in Philippines and it comprises 31 field offices around the world. The bank promote social and economic development in Asia region by providing them affordable loans.
Category: Economy & Banking Current Affairs