Budget 2015: Growing Delhi Metro seeks generous line of credit

NEW DELHI: The Delhi Metro Rail Corporation is keeping its fingers crossed this year hoping that the Centre will be generous in the Union Budget as last year the funds sanctioned were less than demanded.

In 2014, while Delhi Metro had asked for Rs 6,579.23 crore, the allocation for phase-III was almost half the amount at Rs 3,470.16 crore. Of the total amount, Delhi Metro got Rs 838.07 crore for work on phase-III as part of the Centre's equity with another Rs 145.81 crore for its expansion into the NCR.

This time around, Delhi Metro will be looking at not only expansion into the national capital region— where it has work going on for the extension of the Badarpur and Janakpuri to Botanical Garden lines — but also for phase-III which is nearing completion.

While the major contracts had been awarded in 2014 for the two new corridors —Mukundpur to Shiv Vihar and Janakpuri (west) to Botanical Garden — as well as the contract for rolling stock, Delhi Metro would be looking for the last part of the funding for phase-III. Sources added that additional funds were provided in the form of revised estimates and supplementary funds.

The phase-III of Delhi Metro will cost the government Rs 40,000 crore. Of this, a substantial part will be funded by the Japanese government. This amount was Rs 1,723.13 crore for the financial year 2014-15, clubbed under the head of "pass through assistance". The Centre and Delhi government's equity is 14% each in the project.

On ground, tenders have been awarded for majority of the work with further funds expected for signaling, electronics, rolling stock, civil work, etc. The extension to Faridabad and Bahadurgarh are also part of phase-III.

Contractors have started work along several stretches of phase-III, informed Delhi Metro officials.