To get the loan process for the extension of Jaipur Metro rolling, Jaipur Development Authority (JDA) has written to state government and asked it to quote the required principal amount and deposit the interest amount on that principal in the state government account.
“We have to ensure that the interest on the borrowed amount is lying with the state government as security before applying for the loan. So we had sent a proposal to the state government and would soon initiate the loan application process,” said a senior JDA official.
The state government granted financial approval for Metro Line 1D and Line 1C in October and November 2022 respectively. Under the Line 1D, metro services will be extended from Mansarovar to Ajmer Road (200 feet Bypass).
Under the Line 1C, the services will be extended from Badi Chaupar to Transport Nagar. Jaipur Metro Railway Corporation Limited (JMRCL) has appointed Delhi Metro Railway Corporation (DMRC) as the nodal agency to execute both the projects.
“However, since JDA is in a better position to take loans, the urban development and housing (UDH) department has authorised the civic body to take the loan on behalf of JMRCL. JDA, in all probability, would take the loan from National Capital Region Planning Board (NCPRB),” said a senior official.
While the project cost for extending the metro services for 1.3 km towards the 200feet bypass side is pegged at Rs 204.81 crore, the project cost for extending metro services from Badi Chaupar to Transport Nagar is Rs 993.51 crore.
“While the state government has done the entire funding for Line 1A, JMRCL had taken a soft loan from Asian Development Bank for Line 1B. The same process would be followed for Line 1C and Line 1D extensions. However, this time JDA would take the loan on behalf of JMRCL,” said another senior official.