Stressing on use of innovative ways of financing, he suggested property development by DMRC as one option. Complimenting DMRC for its work culture and its expertise in implementation, Shri Nath said,”DMRC has acted as a catalyst for changing the urban mass transportation system not only in Delhi but it has become an example for other cities to emulate”. Terming urban infrastructure as an important issue, he said that with urban centers to contribute 70% to our GDP by 2030, we would have to build a strong urban transport network.
Later speaking to the press on the sidelines of the function, the Minister said that despite Japan going through difficult times, he is hopeful that JICA assistance will come through for Delhi Metro Phase III.
Speaking at the Foundation Day Function, Shri E Shreedharan, MD, DMRC thanked Shri Nath for expeditiously finalizing the Financing Plan for the Phase III in a short period of only 2 months. He also thanked the Minister for the Rs 1500 crore assistance from DDA for the same. Talking about the Journey of Delhi Metro in the last 16 years, he said Delhi Metro has completed 120 km of Phase II in a record time. He said that the Phase III would be expanded to cover about 140 km with an expenditure of about Rs 42000 crore.