The cabinet Thursday approved the National Capital Region Transport Corp Ltd (NCRTC) with an initial capital of Rs.100 crore to facilitate a Rapid Transit System in the region.
The NCRTC would design, develop, implement, finance, operate and maintain the rapid transit system in the region to provide comfortable and fast transport system, Information and Broadcasting Minister Manish Tewari told reporters.
A seed capital of Rs.100 crore shall be contributed by the government for the corporation, he said.
According to the minister, the three priority corridors to be taken up by the corporation initially will be the 111-km Delhi-Sonepat-Panipat, the 180-km Delhi-Gurgaon-Alwar and 90 km Delhi-Ghaziabad-Meerut.
The NCRTC will be set up within two months and will cover Delhi, Haryana, Rajasthan and Uttar Pradesh.