New Delhi, July 11
In an effort to decongest the growing traffic in the National Capital region (NCR), the Union Cabinet today gave its approval for the setting up of a National Capital Region Transport Corporation Limited (NCRTC) under the Companies Act with an initial seed capital of Rs 100 crore.

The new corporation has been set up with the focus on constructing three Regional Rapid Transit System corridors connecting Delhi with Panipat, Alwar and Meerut.

The NCRTC has been approved for designing, developing, implementing, financing, operating and maintaining Regional Rapid Transit system (RRTS) in the NCR to provide comfortable and fast transit to its towns.

This company may form subsidiary companies for implementing each corridor.

The NCRTC shall be set up within two months after approval of the Cabinet.

The corporation is proposed as the implementing agency for taking up the RRTS project in the NCR.

It is envisaged to undertake design construction, operation and maintenance of the RRTS project on a similar pattern as the Delhi Metro Rail Corporation (DMRC). It will cover the states of Delhi, Haryana, Rajasthan and Uttar Pradesh.

The Centre and state governments would contribute equally to the initial seed capital of Rs 100 crore. While the Urban Development and Railway ministries would contribute 22.5% of the amount, the National Capital Region Planning Board would contribute 5%.

The remaining amount would be contributed by Delhi, Haryana, Rajasthan and UP. While a total of eight RRTS corridors have been identified for development in the NCR area, the NCRTC will take up three corridors on priority.

These are the Delhi-Sonipat-Panipat, Delhi - Gurgaon - Alwar and the Delhi - Ghaziabad - Meerut, corridors. The Delhi - Sonipat - Panipat is 111-km-long corridor and the daily ridership is estimated to be 3.77 lakh in 2016 which may grow to 9.83 lakh by 2041.

The Delhi - Gurgaon - Alwar is 180-km-long stretch and estimated to carry 6.9 lakh people daily in 2016 which will go up to 15.1 lakh by 2041.

The Delhi - Ghaziabad - Meerut is 90-km-long and would carry an estimated 5.7 lakh people every day in 2016 and 11.4 lakh by 2041. The total length of the three corridors to be developed by NCRTC is 381 km.

The actual cost, financing plan, RRTS alignments, real estate development, financing through transit oriented development and more will be firmed up and frozen in the DPRs of these projects.