Business Daily from THE HINDU group of publications
Thursday, Apr 02, 2009
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Business Daily from THE HINDU group of publications Thursday, Apr 02, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Railways Money & Banking - Credit Market States - Other States JICA sanctions Rs 4,062-cr soft loan for Delhi Metro phase II
Our Bureau New Delhi, April 1 The Delhi Metro Rail Corporation (DMRC) has been sanctioned a loan of Rs 4,061.81 crore from Japan International Cooperation Agency (JICA) for the development of Phase-II of the Delhi Metro. The loan was sanctioned on March 31 in an agreement signed between the Indian Government and the JICA to provide Japanese ODA (Official Development Assistance) loans for four projects in India, according to a release. The cost of constructing Phase-II of the Metro has been estimated at around Rs 20,000 crore and out of this, Rs 3,894.25 crore has already been sanctioned to DMRC in three tranches. This is the fourth tranche by Japan to assist DMRC in the timely completion of Phase-II, it added. Delhi Metro’s Phase-II comprises 124 km of network and the deadline for the project is 2010. The corridors in the phase include Inderlok-Mundka, Yamuna Bank-Anand Vihar ISBT, Indraprastha-Noida, Central Secretariat-Gurgaon, Central Secretariat-Badarpur and Airport Express Link. Japan is providing the loan for construction of all corridors except the Airport Express Link as this stretch is being developed under a public-private partnership venture. Two corridors of Phase-II – Shahdara-Dilshad Garden and Vishwavidyalaya-Jahangirpuri – are already operational. Phase-II of the Delhi Metro will be crucial from the point of view of the Commonwealth Games to be held in 2010 because the Metro link will be connecting 10 of the 11 Commonwealth Games’ sites. Phase-I was completed in 2002 and comprised 65 km. Sixty per cent of Phase-I project was financed by Japan. The loan was received by DMRC in six tranches which totalled up to Rs 6,434.06 crore. The cost of completion of Phase I was Rs 10,571 crore. More Stories on : Railways | Credit Market | Other States
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