Metro on track, though kitty not full

Metro on track, though kitty not full

NEW DELHI: At Rs 3,470.16 crore, the Budget allocation for Delhi Metro's Phase III is almost half of what it had asked for. Metro officials, however, claim that a large number of tenders for the two new corridors in Phase III - Mukundpur to Shiv Vihar and Janakpuri (West) to Botanical Garden - as well as for the extensions of existing lines have already been awarded. "The funds provided in the Budget are adequate for the ongoing work. As the project progresses during the year, it would be possible for DMRC to approach the government for more funds in the form of revised estimates and supplementaries," said Anuj Dayal, spokesman for DMRC.

Against a demand of Rs 6,579.23 crore, Metro has got Rs 838.07 crore as part of Centre's equity with another Rs 145.81 crore for its expansion into NCR. It has received Rs 763.15 crore against land acquisitions and central taxes besides a Rs 1723.13-crore loan from JICA.

Incidentally, Delhi Metro has also gone ahead with its tender for rolling stock, that is, trains. The funds for the trains, which will be supplied by Hyundai ROTEM, as well as other essentials came from the loan extended by the Japan government (JICA). Officials in DMRC added that funds were also awaited from Delhi government. "There won't be any impact on deadlines," added the official. JICA's funding is 53 per cent while the Centre and Delhi government's equity is 10.95 per cent each.

Phase III of Delhi Metro will cost the government Rs 42674.91 crore. Of this, a substantial part will be funded by the Japanese government. JICA's funding amounts to 53%. The Centre and Delhi government's equity is 10.95% each. For financial year 2014-15, the JICA loan amount is Rs 1,723.13 crore, mentioned under the head of "pass through assistance". In financial year 2013-14, the amount disbursed by Centre was Rs 2,576.61 crore, said Dayal.

On ground, tenders have been awarded for the two new corridors as well as the extension of the Badarpur line to Kashmere Gate and the Jehangirpuri line to Badli. The extension to Faridabad and Bahadurgarh are also part of Phase III. Contractors are already in place and have started work along several stretches of Phase III, according to Delhi Metro officials. Besides the civil work, funds are required for the rolling stock, electrical equipment, signalling system etc.

Source: TOI