New Delhi: The Centre on Tuesday approved the long-awaited Delhi Metro's phase III project at an estimated cost of Rs 35,242 crore. The 103.5 km phase III network will have five corridors, Mukundpur to Yamuna Vihar, Janakpur West to Kalandikunj, Central West to Kalandikunj, Central Secretariat to Kashmere Gate and Jahangirpuri to Badli.
The decision was taken at a meeting of Empowered Group of Ministers (EGoM) chaired by Finance Minister Pranab Mukherjee. Delhi Chief Minister Sheila Dikshit, Lt Governor Tejinder Khanna, DMRC Chairman and Managing Director E Sreedharan and Planning Commission Deputy Chairman Montek Singh Ahluwalia were also present at the meeting in New Delhi.
"The phase III was approved by the EGoM and there are supplementary demand requests for extension both by Haryana and Delhi, those will come later on," Dikshit told after the meeting.
The phase III project includes funding by the Centre and Delhi government of Rs 7,497 crore as equity and Rs 5,100 crore as interest free subordinate debt for land acquisition and central taxes.
There will be a total of 67 stations with 15 inter-change points in the network. The project is expected to be competed by March 2016. With the completion of phase III, the estimated ridership of Delhi Metro will be 39.50 lakh in 2016, 48.32 lakh in 2021 and 65.62 lakh in 2031.
The EGoM also approved the extension of Delhi Metro from Badarpur to YMCA Chowk in Faridabad at a cost of Rs 2,533 crore. The 13.875 km corridor will be fully elevated with nine stations and is likely to be completed by March 2014.
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