The Governments of Haryana, Punjab and Chhandigarh signed a pact for formation of Greater Chandigarh Transport Corporation (GCTC) aimed at developing a comprehensive integrated multi-modal urban and sub-urban commuting system for the region.
The GCTC will be formed for the development of comprehensive integrated multi-modal urban and sub-urban commuter system for the region comprising Union Territory of Chandigarh (UTC) and its surrounding areas in the states of Haryana and Punjab, an official release said.
The initial equity of GCTC shall be Rs 100 crore. It would be equally contributed – 25 percent each – by Union Ministry of Urban Development, Chandigarh Administration and governments of Haryana and Punjab.
The transport projects in the region will be implemented by GCTC.
The Corporation will undertake various studies and projects for the development of public transport service in the region.