Thaindian News

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.