Greater Noida transport hub gets Rs 500 crore boost from Centre

The Greater Noida Authority on Tuesday received Rs 500 crore for the multi-modal transport, logistics and warehousing hub (MMTLH) from the Union government, taking the total amount sanctioned by the latter to about Rs 850 crore so far. While part of the overall Rs 17,000-crore project valued at around Rs 4,000 crore will be jointly funded by the Union government and GNIDA in the ratio of 50:50, the detailed project report (DPR) has been made by PricewaterhouseCoopers (PwC) and Indian Port Rail and Ropeway Corporation Ltd (IPRCL). GNIDA will now initiate tendering in about three-four months, expected by November, officials said.

The project is being developed on the public-private-partnership model in which National Industrial Corridor Development Corporation (NICDC) will build MMTLH as part of an integrated industrial township across 800 acres in Greater Noida.

Narendra Bhooshan, CEO of GNIDA, said, “We have received Rs 500 crore from the central government for MMTLH. This amount is part of the 50:50 share contribution as per the agreement between the Union government and GNIDA. Earlier, the Union government had given Rs 350 crore, taking their total contribution to about Rs 850 crore in the past three-four months.”

While the entire project cost is estimated to be around Rs 17,000 crore, the Union and the state government’s contribution is about Rs 3,800 crore, and Rs 3,000 crore will be provided by a multi-model logistic hub. For the remaining amount, other partners will be contributing.

“We are currently estimating the valuation from the multimodal transport hub, which may go up to Rs 10,000 crore as many elements are entailed in this. So, the eventual project, when ready in about three to five years, will be of about Rs 17,000 crore,” said Bhooshan.

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(From: The Times of India)