The board of directors of Delhi Metro Rail Corporation (DMRC) recently approved metro’s Phase IV project involving an investment of ₹46,800 crore, which will now have to be approved by the Delhi cabinet. In this connection, the Delhi government had asked DMRC to take the project back to its board to seek its re-approval before it is placed before the cabinet for its final approval, said official sources, reiterating that the board’s re-validation for the project was mandatory as the estimated cost of construction of Phase IV has changed twice – from Rs 55,208 crore to Rs 45,603 crore recently but it has now been revised again to around Rs 46,800 crore. The cost in 2014 was estimated on the earlier tax regime and was reduced by Rs 10,000 by taking taxes as per GST into account. It has marginally gone up as the Delhi Metro had earlier failed to factor in the cost of the procurement of metro coaches and laying down tracks on certain stretches. Sources said that the proportion of loan to be provided by Japan International Cooperation Agency (JICA) has come down to 43%, while it was 60% during Phase I and 54% and 51% in Phase II and Phase III, respectively. The 104-km-long Phase IV project, which has six proposed corridors, was approved in-principle by the Delhi government in January 2017, but a final approval and financial commitment were awaited.
📅Published on:
11 December 2018
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