The approval came during an official meeting presided over by Chief Secretary Rajiv Kumar, said Ghaziabad Development Authority Secretary Ravendra Madhukar Godbole, adding that the funding pattern of this ambitious project stood resolved after the approval.
The revised Detailed Project Report for the Rs 2,210 crore 10-km Metro line project was pending for about two years for want of state government approval.
The Metro project was beset by various issues ranging from paucity of funds to delayed availability of land.
Of the total Rs 2,210 crore required for the project, the GDA had paid its share of Rs 695.80 crore. The local Municipal Corporation has to pay Rs 246.50 crore, to be adjusted in GDA books for the land acquired by the authority.
The Avas Vikas Parishad and Uttar Pradesh State Industrial Development Corporation have to pay their share of Rs 440.45 crore and Rs 97 crore, respectively, within 10 days to the GDA, as per the Chief Secretary's order.
The central government would pay its share of Rs 402.40 crore, which was on hold for want of state government approval in the context of a revised DPR.
The DMRC would adjust its own share of Rs 328 crore once the remaining amount was credited to its account, the GDA official added.
Highly placed sources in the GDA said the authority was facing a fund crunch for the project on account of procedural errors in sending the revised DPR directly to the union government without approval from the state Cabinet.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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