Japanese team, Delhi Metro officials discuss Phase-III project

Amid hints that Japan would not halt funding of infrastructure projects in India despite the devastation by tsunami there, a high-level Japanese team held discussions with Delhi Metro officials on the Phase-III project.

Last Updated: Apr 26, 2011, 21:57 PM IST

New Delhi: Amid hints that Japan would
not halt funding of infrastructure projects in India despite
the devastation by tsunami there, a high-level Japanese team
today held discussions with Delhi Metro officials on the
Phase-III project.

The team from Japan International Cooperation Agency
(JICA) met senior officials of the Delhi Metro and discussed
aspects related to the project, which has been approved by the
Delhi government.

The Phase-III envisages adding another 107 km to the
Metro network. Currently, Delhi Metro has a network of over
180 km.

The Detailed Project Report of the Phase-III is
currently examined by the Planning Commission and
Group of Ministers of the Union government.

DMRC officials shared the technical and financial
details of the project with their counterparts from JICA, who
"appreciated the Phase-III project".

"It was a preliminary meeting. The technical and
financial details of the project were shared at the meeting.
The Phase-III was appreciated by the JICA officials," a Delhi
Metro source said.

The source said the team is in New Delhi basically to
"understand the project in all ways -- technically and
financially".

"The team was given a copy of the Detailed Project
Report and was explained about it. We gave a detailed
presentation on the project, its technicalities and the
expected ridership and so on," the source said.

"Today`s meeting was just to make understand the JICA
officials about the project. Nothing much should be expected
from the meeting. They were explained about everything and we
will meet again tomorrow," the source said.

Financial aspects of the project were also shared by
Delhi Metro with JICA, but the source refused to give details.

The team will meet senior officials of the Ministry of
Urban Development tomorrow and get back to Japan, where they
are expected to submit a report about their meeting.

Delhi Metro wants the Phase-III to be implemented at a
debt equity ratio of 40:60.

While the Centre and Delhi governments will contribute
20 per cent each of the project cost, it proposes to raise the
rest 60 per cent through soft loans from JICA, property
development and other sources.

JICA, which partially funded the Phase-I and II of the
Delhi Metro project, had earlier given a commitment to DMRC
chief E Sreedharan that it would also fund the Phase-III as
the new age transport system in Delhi has been operating well.

However, the devastating earthquake that hit Japan
last month had cast doubts whether the JICA would fund the
Phase-III, but the Japanese government conveyed to India that
its assistance and partnership to infrastructure projects
would continue as per the plans.

PTI