Tuesday , July 17 2018

NCR planning board orders review of loans of delayed projects

Taking a serious assessment of delays in execution of projects assisted by the NCR Planning Board (NCRPB), the Urban Development Ministry has directed an assessment of loan for a multi-story office complex in Delhi’s Karkardooma area.

The Ministry is concerned about the delay in implementation of the projects which were extended financial support by the NCRPB, a Ministry representative said. Rajiv Guba, Secretary, Urban Development, has transferred it to the concerned States that is for any further sanctions of loan support to such projects would be grounded on their development.


Overseeing a meeting of the Project Approving and Monitoring Group in Delhi on Friday, Mr. Gauba directed a review of the loan approved for the structure of a multistoried office building at Karkardooma institutional space in East Delhi.

He sought after to know if the loan must be cancelled on account of lack of any progress from the time when the approval of the first instalment of  20 crore in 2013.

Reminder for Haryana

The Haryana government was also said that NCRPB support for several organisational projects would be considered only after the long-pending issues connecting to Asian Development Bank-funded road projects approved in the past were resolved, the representative said.

The Project Approving and Observing Group of NCRPB informed the Haryana government that loan assistance of 168 crore, approved for the 223 crore Manesar Water Supply Project, would be studied if the project work was not started at the earliest. The first instalment of ₹31.13 crore was released for this project in March 2016 and the Haryana State Industrial Infrastructure Development Corporation has not submitted any progress report so far, the representative said.

Loan rejected

The Group also declined to deliberate a loan of 270 crore sought by the Haryana Metro Rail Transport Corporation for extension of the Metro Link from Mundka to Bahadurgarh, stating that it was not in conformism with the original financing plan, he said. The group on Friday approved financial assistance of 1,664 crore for various infrastructure projects costing a total of 2,377 crore. The NCR Planning Board has sanctioned over 4,500 crore of financial assistance for infrastructure development in NCR during the last two years, the spokesperson said.

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