NOIDA: Taking a leaf out of the Gurgaon Rapid Metro rail project, the Noida Authority is planning to run the Metro in their region on a public-private-partnership (PPP) model. Authority Chairman Rama Raman said that funding plays a vital role in running heavy investment projects like the Metro. Considering the fact that the Gurgaon Rapid Metro has generated funds through advertisements and private players, Noida Authority is also gearing to pitch its project on the same pattern.
Authority officials said some private companies have shown an interest in the endeavour. The Uttar Pradesh government, Noida and Greater Noida authorities are facing a challenge to generate Rs.5,000 crore to build the 29km proposed Metro link between Noida’s City Center and Greater Noida’s Bodaki.
Officials said the PPP model can pave the way for early delivery of this project. “In return we will allow private players to publicize their company or projects through advertisement. In Gurgaon, the 3C Company is spreading a green message through the rapid rail. We can offer private players certain subsidies if they come and join the initiative of building world-class infrastructure in the region,” Rama Raman said.
Even private players have welcomed the idea. “It will give an opportunity to speed up infrastructure development as well as allow us to advertise on a good platform,” said Amit Gupta, MD Orris infrastructure and member Assocham.
“If funding constraints cause time and cost overruns, it would be best to involve private realtors by offering them suitable incentives, apart from streamlining the implementation process,” said Vidur Bharadwaj, director (sales), The 3C Company, which has tied-up with the Gurgaon Rapid Metro. Realtors and industrialists in Noida and Greater Noida have also welcomed the proposal.