The Hindu Business Line : JBIC completes project appraisal for funding Delhi metro Phase II

The detailed project report of Phase II has finalised six routes with a total length of 53.02 kilometres. There will be 45 stations in this phase. Of the 53.02 km, about 42.24 km will be elevated, 8.93 km will be underground and 1.85 km will be at grade level.

New Delhi , Jan. 27

THE Japan Bank of International Cooperation (JBIC) has completed the project appraisal for the proposed 48 per cent funding of the Rs 8,118-crore Phase II of Delhi metro project, and a decision is expected in about one month's time.

"A team of JBIC officials appraised the project from economic and environmental standpoint, for their proposed 48 per cent funding in second phase, last month. They are more or less in agreement to fund the project quite substantially, although the agreement has not been signed yet," Mr R.N. Joshi, Director (Finance) of Delhi Metro Rail Corporation (DMRC), said.

The Central Government and the Delhi Government are expected to jointly finance 15 per cent each of the project cost through equity contribution, in addition to providing subordinate loan to cover the cost of land acquisition, which roughly works out to five per cent of the project cost. In addition, five per cent funds would come from internal accruals of DMRC, and another five per cent from property development, he added.

The second phase will include Delhi University-Jahangirpuri, Central Secretariat-Qutab Minar, IP-Yamuna Depot-New Ashok Nagar, Yamuna Depot-Anand Vihar ISBT, Shahadra-Dilshad Garden and Kirti Nagar-Mundka.

DMRC eyeing Rs 150-cr revenue: DMRC is eyeing revenues to the tune of Rs 150 crore in the financial year ended March 2006, compared to Rs 72 crore in the previous year, Mr Joshi said.

"The operating profit this fiscal is expected to be in the range of 20-25 per cent of revenues. At this moment, it is difficult to project the precise numbers as much depends of the economics of line 3 (Barakhamba Road to Dwarka) under Phase I, which has to stabilise. It is a new section and has its unique revenue generation pattern," he added. Currently as much as 85 per cent of the revenues accrue from fare collection and the balance 15 per cent from rental lease, he added.