Loan Agreement with NDB signed

A loan agreement for USD 500 million (Approx. Rs. 3,700 crores) was signed today between Government of India and NDB for funding the Delhi-Ghaziabad-Meerut RRTS Corridor. The project agreement was signed by MoHUA, NCRTC and NDB. The proceeds of this loan will be utilised to finance rolling stock, signalling system, operational structures, residences for operational staff, train control & telecommunication system and other miscellaneous works of the corridor. Speaking on the occasion, Shri Vinay Kumar Singh, MD, NCRTC, said, “NCRTC is committed towards Hon’ble Prime Minister’s vision of an Atmanirbhar Bharat. This is a unique multilateral funding arrangement that allows Make in India provision in procurements. This loan agreement with NDB will be a shot in the arm for NCRTC’s efforts of developing indigenous capacity to create a new age infrastructure for the New India