State government in Delhi has decided to approve all six corridors of the 104-km Phase IV project of Delhi Metro entailing a whopping investment worth ₹55,208 crore. This phase will not only covering far-flung areas of the capital but also provide direct connectivity to several south and central Delhi areas, said official sources, elaborating that the previously Delhi government had found three out of the six proposed corridors financially unviable. Out of the total cost, the Delhi government’s share is around ₹12,500 crore. The government is working on the finance for the project and the approval as Union housing and urban affairs minister Hardeep Singh Puri had earlier announced that the Centre would take up the Phase IV project if the Delhi government didn’t give its approval. The project got the government’s in-principle approval in January 2017 but a final nod and financial commitment is awaited as both the Delhi government and the Centre have an equal stake in Delhi Metro Rail Corporation (DMRC) and follow a 50:50 equity sharing model. The project can be approved by the Centre only after the Delhi government approves it and makes the financial commitment, he added.
