National Capital Region Transport Corporation – Memorandum & Articles of Association Signed for new shell company

In a move that is expected to transform the National Capital Region, the various stakeholders have signed the Memorandum & Articles of Association (MAA) for setting up a new shell company called National Capital Region Transport Corporation (NCRTC). The MAA was signed by all the constituent states of National Capital Region (Delhi, Haryana, Rajasthan, Uttar Pradesh) , Ministry of Railways, National Capital Region Planning Board (NCRPB) and Ministry of Urban Development, Government of India in New Delhi today.

The NCRTC is being set up for designing, developing, implementing, financing, operating and maintaining Regional Rapid Transport System (RRTS) in National Capital Region (NCR) to provide comfortable and fast transit to NCR towns and meet the high growth in transport demand.

The company will have a share capital of Rs 100cr on 50:50 ownership pattern ie 50% being owned by the Central Government and 50% state governments. The company will implement individual RRTS corridors either through separate Special Purpose Vehicles (SPVs) or on Public Private Partnership(PPP) mode.

The three priority corridors identified for development in the first phase are:

• Delhi-Sonipat-Panipat
• Delhi-Gurgaon-Alwar
• Delhi-Ghaziabad- Meerut

S.No	RRTS Corridor	Length (km)	Daily Ridership (in lakhs)		No. of Stations
			2016	2041
1	Delhi-Sonipat-Panipat	111	3.77	9.83	12
2	Delhi-Gurgaon-Alwar	180	6.9	15.1	19
3	Delhi-Ghaziabad-Meerut	90	5.7	11.4	17
	Total	381	–	–

The total cost of setting up the three prioritized corridors is likely to be Rs 72,000 cr.

Speaking on the occasion, the Secretary, M/o Urban Development  Dr  Sudhir Krishna stated that a reliable, safe , comfortable and affordable transportation system will help to provide better job and livelihood opportunities to the people of the region especially women. He added that the entire system will have to be gender sensitive in its design and implementation.

The Member Secretary, NCR Planning Board, Mrs Naini Jayaseelan emphasized that innovative methods of financing will have to be adopted, both multi as well as bilateral, to ensure the success of the project.

The Memorandum of Association of NCRTC provides for taking up multi-modal transport systems and also taking up property development as well as Transit Oriented Development relating to RRTS or other Urban Transport and people mover systems.

The setting up of eight RRTS Corridors to connect various important towns of NCR with high speed rail based commuter transit system was recommended by the National Capital Region Planning Board (NCRPB) in its ˜Functional Plan on Transport for NCR-2023™.