: Nearly two weeks after the Noida Metro Rail Corporation (NMRC) – Noida’s own metro rail company — was registered, it held its first board meeting in Lucknow on Wednesday. Formed on the lines of Delhi Metro Rail Corporation (DMRC), the Uttar Pradesh chief secretary Alok Ranjan, who holds additional charge as the Infrastructure and Industrial Development Commissioner (IIDC), has been nominated as the company’s chairperson. Rama Raman, chairperson of all three GB Nagar development authorities, has been designated its managing director, while Noida Authority’s financial controller, G P Singh, will be its executive director.
A total of 19 proposals were discussed as part of the agenda. Officials said these were statutory in nature and as per provisions of the Registrar of Companies. The NMRC office will be located in Noida.
Registered under the companies act, NMRC will be wholly owned and funded by Noida and Greater Noida. “Whether there will be equity participation from the state governments as well, is yet to be decided,” said Rama Raman. “We will propose that a pattern similar to that in DMRC be implemented, with 50% stake each of the Centre and the state,” Raman explained.
