Green signal at Delhi meet

Noida: The Noida-Greater Noida Metro railway project had a smooth run in the pre-Public Investment Board (PIB) meeting held at New Delhi on Wednesday. Santosh Yadav, managing director, Noida Metro Rail Corporation (NMRC) gave a presentation before officers of the ministry of urban development (MoUD), Government of India. All queries were cleared at the meet.
The report of the pre-PIB meeting will be presented by the MoUD to the ministry of finance before a PIB meeting is held for final clearances and release of Rs 1,039 crore funding for the under-construction corridor.
“Issues regarding equity, loan besides a few other queries were addressed and examined,” said P D Upadhyay, general manager (Finance), NMRC, adding, “All these were cleared. A PIB note will now be prepared by the MoUD and forwarded to the Finance Ministry for approval before it can be sent to the PMO for final clearance.”
According to NMRC officials, once they have the nod, 20% cost of project, which is about Rs 1,039 crores, will be released as part of the PIB grant.