Metro Phase 3 funding issue is sorted out

Feb 08, 2011 |

Age Correspondent

New Delhi

The problem of funding the third phase of the Delhi Metro seems to have been sorted out with Delhi chief minister Sheila Dikshit saying that the Japan International Cooperation Agency (JICA), which was said to be reluctant in funding the third phase, has agreed to do so. However, a formal communication from the JICA is yet to be received in this regard.

Talking to reporters here on Monday, Ms Dikshit said, “ (DMRC chief) Mr E. Sreedharan told that Japanese funding has been tied up for funding the project”. She added that her government will contribute its share of the total cost of the project, which is likely to be 20 per cent. The other 20 per cent may be pooled in by the centre, while the remaining 60 per cent shall be made available by JICA or other finance agencies. It is expected that the debt equity sharing in the third phase may be of 40:60 ratio.
Ms Dikshit also said that depending on the performance and the functionality of the public-private-partnership, the government will take a further look on such partnerships.

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