The Hindu : New Delhi News : A major push for Metro expansion

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Wednesday, Mar 12, 2008
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A major push for Metro expansion

Staff Reporter

Japan Bank gives 72,100 million yen loan for second phase of construction

PHOTO: PTI

METRO MARCH: Metro construction work in full swing with the help of two Tunnel Boring Machines near INA Market on Tuesday.

NEW DELHI: In a major push for expansion of the Delhi Metro network, the Japan Bank for International Cooperation has advanced a loan of 72,100 million yen to the Delhi Metro Rail Corporation for its second phase of construction.

The loan amount, which is the highest given to DMRC so far, is the third instalment for the second phase works.

The proceeds of the loan would be used for civil engineering works of subway construction, procurement of vehicles and consulting services among other things.

Taking note of Delhi’s burgeoning population and the increase in pollution levels due to an upsurge in vehicular traffic, the Delhi Metro is widely seen as an effective and ecologically friendly mode of transportation. The further expansion of the Metro is expected to solve the problem of traffic congestion and environmental degradation caused by vehicular emissions.

“With the release of this loan amount, works related to the second phase of constructions will gain pace. The Japanese bank is funding about 50 per cent of the total expenditure that will be incurred on the second phase,” said a DMRC official.

The sanction for the loan amount came after DMRC put forth its requirement for the remaining construction work. Underling the project objectives, the Japanese bank while forwarding the loan said: “This project aims for construction of a total length of 414 km of subway and elevated and above-ground railway in Delhi. This will help to activate the economy and improve the environment by relieving congestion and reducing the emission of exhaust gases and additionally of greenhouse gases.”

All lines of Phase-1 spanning 65 km went into operation in November 2006. For Phase II, the target is 83 km over six lines, of which three are to be extended. The extension of the Metro to places of historic relevance has led to a spurt in the number of tourists visiting such places.

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