NOIDA: To bring Metro railway connectivity to its area, Yamuna Expressway Industrial Development Authority (YEIDA) has expressed its interest to acquire a 5% stake in the Noida Metro Rail Company. The proposal was made to the company by YEIDA officials at a meeting held on Friday.
Officials said that with the population of the region projected to touch 35 lakh by 2031, there is need for a system that doesn’t depend on a single mode of transport but forms the basis of a mobility plan.
“The aim is to establish a roadmap specifying and prioritizing YEIDA region’s transportation needs and to work towards it. Hence, we have proposed to own 5% shares in NMRC,” YEIDA’s CEO Santosh Yadav told TOI. Currently, both Noida and Greater Noida enjoy a 70:30 stake in the company.
He added, “Considering that thousands of people will inhabit the area in the near future, the Metro link will prove very useful. It will also serve the several proposed residential, industrial and IT units along the Yamuna expressway. With NMRC soon to finalize the city bus service between Noida and Greater Noida, with our stake, we will also ensure buses reach YEIDA.”
According to officials, an in-principle approval for the proposal has been given by Rama Raman, the chairperson of the three authorities of Noida, Greater Noida and YEIDA. “The proposal will now have to be cleared in the upcoming board meeting of NMRC, which is scheduled for June 20. Thereafter, an approval will be sought from the Uttar Pradesh government,” Yadav said.
