Metro looks to shake off Japan tremors

Issue of funding for Phase-III may be sorted out on Tuesday

Issue of funding for Phase-III may be sorted out on Tuesday

A high level team from Japan International Cooperation Bank (JICA) is likely to arrive in Delhi on Tuesday to clear the confusion over funding of Phase-III of Delhi Metro.



There were apprehensions in Delhi circles whether Japan would fund the third phase of Delhi Metro or not after tragedy struck the country last month. "The team will arrive on Tuesday to discuss the funding," a Delhi government official told MiD DAY.

The six corridors which are to be taken up in the third phase will cover 103.05 km and will cost Rs 35,242 crore. The third phase is expected to be completed by March 2016.

The JICA has reportedly conveyed to the Urban Development Ministry that it would be able to fund only 40 per cent of the total cost of the third phase. In the first and second phase of Delhi Metro, JICA had funded 55 per cent of the project cost.

Another option government is looking at for funding is to levy additional property tax and betterment tax along the Delhi Metro corridors.

100 Months
The Delhi Metro Rail Corporation (DMRC), on Sunday completed
100 months of operations.

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