City Reports

NCRPB to release first instalment of loan for Dravyavati River Project

The project will pick up speed after getting the loan instalment from NCRBP, JDA officials.

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September 25, 2018, 6:17 pm

Dravyavati River Project in Jaipur

Dravyavati Riverfront project at Jaipur.

Jaipur: National Capital Region Planning Board (NCRPB) will release the first instalment of loan for Jaipur’s Dravyavati River Project by April 24. The work was progressing at a snail’s pace due to lack of funds for the project, but after getting the loan instalment from NCRBP, the project will pick up speed, Jaipur Development Authority (JDA) officials said.

Jaipur development commissioner (JDC) Vaibhav Galriya and secretary Purushottam Biyani held a meeting with NCRPB officials in Delhi recently and finalized the release of loan instalment.

Read Also: Dravyavati River Project in Jaipur: Everything you need to know

“We have completed the process for the loan’s approval after submitting all the necessary documents related to the project. NCRPB officials have promised that they would soon release the first loan instalment,” said a senior JDA official.

JDA has asked for a loan of Rs 1663 crore for the project.

The companies involved in the project slowed down work as JDA was falling behind on payments for project milestones. The JDA recently promised that loan for the project would be approved shortly.

JDC Vaibhav Galriya recently visited places where work on the project was undergoing. He instructed the companies to speed up the work.

JDC asked TATA Project to immediately resume work on parks to be developed near Pachipech, Mansarovar and Bambala. He also asked the company representatives to speed up construction of a walk-way on both sides of Dravyavati River. A 4 km long cycle track will also be constructed.

First published: April 12, 2017
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