`Delhi Govt will not be able to fund Metro`s third phase`
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Last Updated: Wednesday, January 13, 2010, 23:40
  
New Delhi: Delhi Government will not be able to allocate required funds for the third phase of the metro network due to financial crisis.

Delhi Finance Minister A K Walia said Government was facing severe shortage of funds due to huge spending on projects linked to the Commonwealth Games and so it will not be able to contribute its share for the third phase of metro.

Walia said Delhi Development Authority (DDA), which earns lot of money by selling lands in the capital, should be asked to contribute Delhi Government's quota of financial assistance.

The Minister even said that the Government would not be able to make the remaining quota of payments for the second phase of the Metro network and that DDA should also fund the projects.

"The DDA should also fund the metro projects. They earn lot of money by selling land in the capital. They should contribute their financial resources for development of transport network in the city," Walia told PTI.

Walia said the city Government was asked to pay Rs 1,265 crore after Japan Bank of International Cooperation (JBIC) said it would not be able to provide more than 30 per cent of the project cost for the third phase.

"It will not be possible for us to cough up this amount. The DDA must come forward," Walia said.

Delhi government had sanctioned Rs three crore for the preparation of detailed project report (DPR) of the third phase of the metro network.

The DMRC plans to start the construction work on Phase-III by the end of 2010.

In Phase-III, the DMRC envisages connecting Jahangirpur with Sarai Kale Khan ISBT, Dilshad Garden with Ghaziabad ISBT, Airport link-Sushant Lok (Gurgaon), Mundka-Delhi border-Bahadurgarh, Badarpur-YMCA chowk and Gurgaon.

"We want DDA to pay the remaining amount of payment on our behalf to the DMRC as we are facing lot of financial difficulties," Walia added.

The Union Urban Development Ministry had told Delhi that the Centre will contribute half of the total project cost while Delhi government will have to cough up the other half.

-PTI


First Published: Wednesday, January 13, 2010, 23:40


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