DMRC reducing the debt pile before Commonwealth Games

Posted By: Religare
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The Delhi Metro Rail Corporation (DMRC) has paid back the loan amount of Rs.567.63 crore for Phase - I and the interest amount for Phase - I and II to the Japan International Cooperation Agency (JICA). The total loan paid back for Phase - 1 is Rs.95.83crore and the interest on the loan amount for both Phase - I and II has been paid back to the tune of Rs.471.73crore. DMRC completed the Phase - I project of 65 km in 2002. The project fetched an investment of Rs.10, 571crore out of which 60 per cent was financed by JICA. JICA sanctioned a loan of Rs.6434.06crore for Delhi Metro's Phase - I project in a total of 6 tranches on an annual interest of 1.30-2.30 per cent. Phase-II is of 124.61 kms and will be completed by September 2010 before the Commonwealth Games. The total cost of this project is approximately Rs.20,000 crore and JICA is financing 49.19 per cent of this project. For DMRC's Phase - II JICA has sanctioned a loan amount of Rs.9686.69 crore to be paid in 5 tranches on an annual interest of 1.20-1.40 per cent. Till date 4 tranches have been paid to DMRC. The loan payback period for both Phase - I and II is 30 years with a moratorium of 10 years. Hence, DMRC can pay back the loan for Phase - I by 2035 and for Phase - II by 2040. With the completion of Phase - I and II Delhi Metro will have a total network of over 190 kms covering the Delhi and NCR regions. Phase - II is important to the city of Delhi as it will connect 10 out of a total of 11 Commonwealth Games venues.

Read more about: delhi, metro, rail, corporation, loan, interest
Story first published: Monday, August 9, 2010, 14:59 [IST]
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