Haryana sets up new transport company

The Cabinet, which met under the chairmanship of Chief Minister Bhupinder Singh Hooda here, also approved authorised capital of Rs 100 crore for the company that would also have paid-up capital of Rs 10 crore. The company would run taxi cabs, lorries, buses, cars, trucks, station wagons, airplanes, motors, railways, rail motors, vessels, boats and all other vehicles of whatsoever kind from one place to another as inter-city or intra-city services or BRT feeder bus services for carrying or conveying and transporting for efficient running of mass transit system.

The equity participation of the state government would be 51 per cent, HUDA 29 per cent and of Haryana State Industrial and Infrastructure Development Corporation 20 per cent, he told reporters after the Cabinet.

The directors of the company would be financial commissioners of finance, town and country planning, transport, industries, public works (building and roads), director general, town and country planning would be nominee of the government and other directors would be chief administrator, HUDA and managing director of HSIIDC.

The Cabinet gave its approval to the project of extension of Delhi Metro from Badarpur to YMCA Chowk, Faridabad at revised cost of Rs 2,494 crore.

The total cost of the project include Rs 85 crore towards cost of land, Rs 1639 crore as cost of network (excluding taxes in the ratio of 80:20), Rs 261 crore as Central taxes to be shared between the Haryana government and the Centre in the ratio of 20:80, Rs 109 crore as state taxes and Rs 400 crore as cost of rolling stock.