Metrino pilot project worth Rs 4,000 crore marked for Delhi: Nitin Gadkari

NEW DELHI: A slew of steps are being taken to overhaul the highways sector, including a Rs 4,000-crore Metrino pilot project to decongest Delhi, Road Transport and Highways Minister Nitin Gadkari today said.

This will be achieved through driverless pods between Delhi's Dhaula Kuan and Manesar.

Also on the anvil is a new policy where those surrendering old cars would be incentivised to decongest traffic through less vehicles on roads.

"We are set to reform the highways sector. We want to do work worth Rs 5 lakh crore in 5 years... we are taking a number of initiatives to decongest the national capital and other areas. One such step, which could be revolutionary in this regard, will be Metrino project worth Rs 4,000 crore," Gadkari said at a PHD Chamber event here.

"We have taken a decision to introduce Metrino system on 70-km stretch from Dhaula Kuan to Manesar on the pattern of a ropeway. It will come down at the station and will run on electricity. While the capital cost of metro is Rs 250 crore per km, this will cost Rs 50 crore per km. We will begin work within six months. It's a pilot project."

Under the project, fully automatic and driverless small vehicles known as pods will travel suspended under an overhead network.

Gadkari said the work on Rs 6,000-crore ring road from Manesar to Eastern pass will take off soon, besides Dasna to Meerut highway being converted into 16 lanes.

"Once the ring road is complete, it will reduce the problem of traffic jam in Delhi by 30-40 per cent," he said.

Elaborating on the new policy to clear up traffic, the Minister said people will be offered some financial incentives in lieu of return of their old vehicles to reduce the number of vehicles on the roads.

"We are formulating a new policy that whoever will surrender their old car, we will give some incentive to them. We will process the old cars in any industrial area and recycle their parts.

"We will give some money to them. They can buy a new car. On one new vehicle purchase, the government is benefited by Rs 95,000. We will encourage people to sell off their old cars," he added.

Money has never been an issue for the Highways Ministry, Gadkari said, and it has earmarked 112 projects to be sold to foreign insurance and pension funds.

"We have 112 such projects which we have earmarked to sell to foreign insurance and pension funds. We are inviting investors from all over the world. We can get Rs 1 lakh crore by securitising these. Many foreign funds are ready to finance us Rs 2 to 3 lakh crore on 0.50 per cent," he said.

Gadkari said, "We have Rs 42,000 crore budget. We can raise Rs 70,000 crore from tax exempted bonds besides we have annual toll collection of Rs 7,000-8,000 crore. If we securitise these for 15 years, we can get Rs 1,20,000 crore."

The Minister said it was due to a number of initiatives (taken by the ministry) that about 95 per cent problems of projects worth Rs 3.8 lakh crore, which were stuck, could be solved.