The Noida Metro project finally gets its formal approval for its advanced stages of construction on Wednesday. The project is aiming to get finished by the year end facilitating its commuters in Noida. The Cabinet stamp has finally paved a way for equity worth Rs. 1000 crores required in the project.
With this green signal, it is been assured that the project will suffer no future financial crisis as well. A budget of Rs. 5,533 crore has already been allocated to the project connecting rest of NCR with Greater Noida starting at Sector 71 in Noida. This will be named as The Aqua line with an interface as Blue line extension from Noida City Centre to Sector 62.
An aid of Rs. 1587 crore was released in January after the approval by the National Capital Regional Planning Board. This finance at subsidized interest rate shall be employed at the Metro corridor. Since the BJP has came to power in Uttar Pradesh, fast track approvals are granted for the corridor.