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ADB to lend $926 million for Mumbai metro rail project

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New Delhi, March 1 (IANS) Marking its single largest infrastructure loan ever, the Asian Development Bank (ADB) on Friday signed a $926 million loan agreement with India to operationalise two lines for the Mumbai metro rail system.

It aims to ease the distress of millions of commuters each day and help provide a cleaner and less congested city, the Ministry of Finance said in a statement.

“The single largest infrastructure project loan in ADB history approved by the ADB Board on February 26, will help fund lines 2A (Dahisar to D.N. Nagar), 2B (D.N. Nagar-Bandra-Mandale), and 7 (Dahisar-East to Andheri-East), totalling about 58 kilometres,” it said.

The project will fund 63 six-car trains, signalling and safety systems and help establish a new dedicated metro operations organisation to manage the entire metro network in Mumbai.

The Mumbai Metropolitan Region Development Authority (MMRDA) will implement the project and once operational by the end of 2022, an estimated 2 million passengers a day will use the two new lines, the Ministry said.

It will also reduce emissions from vehicles. Carbon dioxide emissions are expected to fall by about 1,66,000 tons a year, it said.

“ADB financing will ease travel for millions of commuters across Mumbai, help decongest heavily crowded suburban rail systems and contribute to providing modern, clean and livable urban environment to its citizens,” ADB Country Director Kenichi Yokoyama said.

Mumbai, the financial capital of India with a population of about 12 million, is the capital of Maharashtra, which accounts for about 15 per cent of India’s gross domestic product, about 40 per cent of which is generated from the Mumbai metropolitan region.

Rail is the primary means of transport in Mumbai, where the suburban network totals almost 400 km and carries more than 7.5 million passengers a day.

“The New Mumbai Metro is an ambitious and truly transformative venture planned by the state government which will contribute to enhance the efficiency of the urban transport network and productivity of India’s financial centre,” said Sameer Kumar Khare, Additional Secretary, Finance Ministry.

Recognising the transportation challenges, the government has developed a plan for 12 metro lines with a total length of 276 km. Line 1, completed in 2014 on a public-private partnership model, carries about 4 lakh passengers a day and has reduced travel time along its east-west route from 71 minutes to 21 minutes.

Other new metro lines will ease travel and make the city more liveable and competitive. Since access to the stations is sometimes difficult, ADB is also assisting MMRDA to improve last mile connectivity by piloting electric vehicles and non-motorised transport at select stations.

The project also marks ADB’s first co-financing with the Shanghai-based New Development Bank, which will provide $260 million toward the metro systems project. The MMRDA will implement civil works and other related components for the lines 2A, 2B and 7.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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