Delhi Metro Phase-III: Govt,JICA positive on bearing project cost

Facing funding issues till now,the Delhi Metros Phase-III project now seems back on track,with the Japanese International Cooperation Agency agreeing to extending financial assistance.

Facing funding issues till now,the Delhi Metros Phase-III project now seems back on track,with the Japanese International Cooperation Agency (JICA) agreeing to extending financial assistance.

Chief Minister Sheila Dikshit on Monday said she had been informed by the Delhi Metro Rail Corporation chief that JICA,which funded the first two phases of the Delhi Metro project,had responded positively to the proposal for funding the upcoming phase as well. The funding has been decided and I was told by DMRC chief E Sreedharan that the JICA is positive about funding the project, she said.

Dikshit said her government would bear its share of the total project cost,but the amount was not clear yet.

Phase III is estimated to cost Rs 28,000 crore,with six corridors planned so far. It will add 105 km to the existing 185-km long Metro network.

A formal communication is,however,yet to be sent to JICA seeking its assistance as the lines for the upcoming phase are yet to be approved by the Cabinet. Sources said the communication would be sent by the Government of India once it approves the Phase-III project. The proposal is being examined by a Group of Ministers and is expected to get a nod in a few months.

Phase III is likely to be implemented at 40:60 debt-equity ratio. The Delhi and Central governments will contribute 20 per cent each of the total project cost. While five per cent can be raised through property development,the rest is likely to be raised through loans from agencies like JICA,sources said.

The Delhi government had also approached the Delhi Development Authority (DDA) to partly fund Phase III. The DDA has not responded so far.

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Delhi Metro Phase-III: Govt,JICA positive on bearing project cost

Facing funding issues till now,the Delhi Metros Phase-III project now seems back on track,with the Japanese International Cooperation Agency agreeing to extending financial assistance.

Delhi Metro Phase-III: Govt,JICA positive on bearing project cost

Facing funding issues till now,the Delhi Metros Phase-III project now seems back on track,with the Japanese International Cooperation Agency agreeing to extending financial assistance.