The Hindu : New Delhi News : 1,351 crore for Delhi Metro Phase-III

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Tuesday, Mar 01, 2011
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1,351 crore for Delhi Metro Phase-III

Metro proposed debt equity ratio of 40:60 under which State, Centre could contribute 20 per cent each
Rest of the amount could be raised by loans from agencies like Japan International Cooperation Agency

New Delhi: The construction of Delhi Metro's Phase-III, which envisages adding another 104 km to the network, is proposed to be taken up in 2011-12, the Government announced on Monday and allotted Rs.1,351 crore as Budgetary support for it.

With the Phase-II, which brought the metro network in Delhi to about 200 km, almost nearing its completion, the Government announced its plans for Phase-III for which the Delhi Metro has already prepared detailed project reports.

“In 2011-12, Delhi Metro Phase-III and Mumbai Metro Line III are proposed to be taken up,” Finance Minister Pranab Mukherjee said in his Budget speech in Lok Sabha.

While the Centre will infuse Rs.452.2 crore as equity to the Delhi Metro Rail Corporation, which it jointly owns with the Delhi Government, it will provide Rs.101.28 crore as grants.

The Budgetary support for Delhi Metro is likely to be used for the construction of the Phase-III.

Another Rs.650 crore is being proposed as pass through assistance for the new-age transport system, which has changed the way Delhiites travel.

Project under scrutiny

The Phase-III project is currently being scrutinised by a Group of Ministers and the Planning Commission to decide the debt equity ration.

- PTI

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