Cash-strapped Jaipur Development Authority (JDA) is planning to avail yet another loan from the National Capital Region Planning Board (NCRPB) to complete the construction of seven ongoing railway overbridges (ROBs), including the ambitious elevated road project.
The civic body wants approximately Rs 800 crore as loan to complete the ROBs and the elevated road, which is being constructed between LIC Circle and Sodala.
The proposal will be forwarded to the Rajasthan government for its final approval.
Reports indicate that the JDA is yet to finalise whether the state government or JDA will give the bank guarantee.
The JDA has already applied for loans totalling Rs 2,250 crore to NCRPB for the city's three major projects. The JDA is now seeking funds from the Centre for ROBs and the elevated road. According to reports, JDA expects NCRPB to provide 75 per cent of the proposed loan amount. It is known that if the loan is not received on time, the pace of these projects will be affected severely.
