AIIB approves funds for Delhi-Meerut RRTS project

The Asian Infrastructure Investment Bank (AIIB) has approved funds worth Rs 36.66 billion ($500 million) as Tranche 2 for the Delhi-Ghaziabad-Meerut Regional Rapid Transit System (RRTS) project. The funds will be provided for a period of 25 years including a grace period of eight years. Meanwhile, the Asian Development Bank will provide funds worth Rs 76.91 billion ($1.05 billion) in Tranches 1, 3 and 4. The project involves the development of an 82.15 km RRTS connecting the Delhi-Ghaziabad-Meerut corridor in the states of Delhi and Uttar Pradesh at an investment of Rs 306.68 billion. The RRTS will originate from the Sarai Kale Khan Terminus station in Delhi and will pass through dense regions of Delhi, Ghaziabad and Meerut, finally terminating at Modipuram in Meerut and will have a total of 24 stations. It will be developed in three stages, with the entire project expected to commence operations by March 2025.