FCC

JDA to take NCRPB loan on behalf of Jaipur Metro

2022-12-23

Months after the Finance Department gave its approval for the construction of Line 1C and Line 1D of the Jaipur Metro, the Urban Development and Housing (UDH) department has assigned the Jaipur Development Authority (JDA) to take loan on behalf of Jaipur Metro Rail Corporation Ltd (JMRCL) and fund the projects.

The civic authority is reportedly soon to apply for a loan from the National Capital Region Planning Board (NCRPB).

“In a recent meeting of the UDH Department, it was decided that JDA will take loan on behalf of JMRCL because the latter doesn’t have credibility to take a loan of such a huge amount.

“It is common with transport corporations, who often run at operational losses. JDA has this credibility because of its assets – mainly several land banks in its possession,” a senior UDH department official was quoted as saying.

In November 2022, the Finance Department gave clearance for construction of Line 1C of Jaipur Metro. This extension would connect a 2.26 km stretch from Badi to Transport Nagar on the Delhi-Agra Highway.

Earlier, in October 2022, the department had given approval for Line 1D of Jaipur Metro in which metro services will be extended for a stretch of 1.3 km from Mansarovar to Ajmer Road. Together these two projects would cost Rs 11.98 billion.