Kamal Nath asks DDA to raise funds for Metro expansion
Delhi Metro's dependency for soft loan on Japan for expansion of project may come to an end soon as central government wants a new finance model for it by replacing JICA by DDA.Updated: May 03, 2011 23:04 IST
Delhi Metro's dependency for soft loan on Japan for expansion of project may come to an end soon as central government wants a new finance model for it by replacing JICA by DDA.
According to the union urban development minister Kamal Nath, Delhi Metro needs massive expansion and for that Delhi Development Authority (DDA) should take a sizable financial burden.
"Every time we cannot depend on Japan International Cooperation Agency (JICA) for the same," Nath told HT on the sidelines of a function to observe the 17th foundation day of Delhi Metro on Tuesday.
He said that he has asked the DDA to allocate additional fund of R10,000 crore for phase 3 expansion in addition of R1,500 crore that DDA had promised to sanction.
"I have asked the authority to raise additional funds by utilising its resources and pass them on to the Delhi Metro," said Nath.
He expressed hope that this time also, despite being badly affected by the earthquake, JICA would offer soft loans for Metro's expansion. "But we cannot depend on them always."
He also asked E Sreedharan, the chief of Delhi Metro to immediately prepare the detailed project report for its proposed phase 4 well in advance so that the project work under phase 4 can be initiated immediately after phase 3 is completed in next five years.
"Delhi Metro has acted as a catalyst for changing the urban mass transportation system not only in Delhi but it has become an example for other cities to emulate", he said.
Sreedharan said that Metro would get additional 140 km in phase 3. According to the DPR an expansion of 104 km had been proposed. However, Metro chief said, in this proposed phase new corridors connecting Badarpur with Faridabad, Kalindi Kunj with Botanical garden in Noida, Ghaziabad with Dilshad Garden or Badarpur and extension of Airport Expressline to Gurgaon will be included.