DDA told to raise funds for Metro network expansionMay 3rd, 2011 - 11:53 pm ICT by IANS
New Delhi, May 3 (IANS) Urban Development Minister Kamal Nath Tuesday asked the Delhi Development Authority (DDA) to raise a fund of Rs.10,000 crore for speeding up the Delhi Metro network expansion.
“I have asked the DDA to raise at least a Rs.10,000 crore fund for the Delhi Metro Rail Corporation (DMRC). The funding for the DMRC is necessary as it has changed and is changing the urban transport in India through innovative and proper planning,” the minister said on the sidelines of Delhi Metro’s 17th Foundation Day.
Kamal nath added that for the first time the DDA contributed Rs.1,500 crore in the Delhi Metro’s Phase-III project.
“The DDA has to raise the amount through various sources and give it to the DMRC as it plays the most important role in urban transport system.”
The funding pattern of the Phase-III work was decided last week as the urban development ministry persuaded the DDA to contribute Rs.1,500 crore.
Asked about the funding from Japan for Phase III, the minister said he is hopeful that Japan International Corporation Agency’s (JICA) assistance will come through.
Apart from funding, Nath also asked Delhi Metro chief E. Sreedharan to prepare a detailed project report for the Metro’s Phase-IV.
“The Phase-III has been cleared. Even though it had certain delays due to various reasons, we now have to speed up the process for Phase IV. Finances are not a problem but planning and implementation are the most difficult parts,” Kamal Nath said.
Appreciating the efforts of the DMRC and Sreedharan’s contribution, he said the Delhi Metro acts as a huge catalyst in changing the urban transportation in India.
He also asked the Sreedharan to guide the other cities in the country to have a transport system like the DMRC.
The DMRC celebrated its 17th Foundation Day and conferred awards on 35 employees for their contribution to the Metro services.
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- Budget 2012-13: Delhi Metro gets over Rs.2,200 crore - Mar 16, 2012
- Metro Man rides into sunset, to pass baton to Mangu Singh (With Image) - Dec 30, 2011
- Japanese team to discuss Metro Phase III funding - Apr 25, 2011
- Jaipur Metro project's foundation stone laid - Feb 24, 2011
- Metro Man Sreedharan switches tracks, retires Saturday - Dec 30, 2011
- Secretariat-Kashmere Gate Metro line expected by 2015 - May 25, 2012
- Metro rail for 2 mn-plus cities: Kamal Nath (Lead) - Nov 17, 2011
- Delhi Metro has a Rs.15,000 crore debt - Feb 14, 2012
- Delhi Metro awarded for clean system - Dec 06, 2011
- Karnataka clears second phase of Bangalore Metro project - Jan 04, 2012
- Delhi Metro to add 800 lifts and escalators - Jan 06, 2012
- Delhi Metro will be bigger than London underground: Kamal Nath - Nov 17, 2011
Tags: crore, delhi development authority, delhi metro rail, delhi metro rail corporation, detailed project, development minister, development ministry, dmrc, foundation day, japan international, jica, kamal nath, metro chief, metro network, metro services, network expansion, phase iii, phase iv, urban transport system, urban transportation