The Hindu : Japan sanctions funds for Metro

Online edition of India's National Newspaper
Friday, Jan 10, 2003

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Japan sanctions funds for Metro

By Our Staff Reporter

NEW DELHI JAN. 9. The Government of Japan has sanctioned 33117 million yen as the fourth tranche of time-sliced load assistance for the ongoing Delhi Metro project.

A part of the first loan assistance package to be offered by the Government of Japan after the discontinuation of economic measures in October 2001 -- introduced following the nuclear tests conducted by India in May 1998 -- the sanction seeks to assist the creation of the state-of-the-art high-speed, environment-friendly and safe transport system in Delhi. The first section of the project comprising the 8.3-km Shahdara-Tis Hazari corridor was inaugurated by the Prime Minister, Atal Behari Vajpayee, on December 24, 2002.

A major portion of the Japanese assistance will help in the construction of the Barakhamba Road-Dwarka corridor which has replaced the Nangloi corridor.

The change in route had led to an escalation in the cost of Phase I of the project by Rs 1,200 crores of which the Japanese share -- on approval -- was about Rs 580 crores.

A statement by the Japan Information and Cultural Centre here said that the Delhi Metro, conceived as a "social sector'' project, would help siphon off from the roads a very substantive part of daily commuter trips on buses and private vehicles, thereby making a significant impact in terms of reduction in atmospheric pollution, saving in fuel cost per year and appreciable improvement in the quality of life in the metropolis.

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