Title - Delhi Metro Rail Corporation asks UT administration to seek loan for metro project

CHANDIGARH: For first phase of Metro Rail project for Chandigarh, Delhi Metro Rail Corporation DMRC) has recommended that UT administration should seek soft loans instead of going in for private funding. It has cited the example of Delhi Metro, which had got such funding from Japan. The project is set to cost over Rs 8,000 crore.

The preliminary draft of the detailed project report (DPR) has suggested a financial model top make Metro viable for Chandigarh. There have been apprehensions if the tube will generate enough revenue to make it break even, given the obsession of Chandigarh residents with private vehicles, giving city the dubious reputation of having the highest per capita vehicle ratio of two.

DMRC has reportedly pointed out that the option of private funding has resulted in unusual delay in execution of the project in other cities. Apart from UT, states of Punjab and Haryana will also pool in funds for infrastructure development of the project.

The DPR will be put up before the planning commission shortly to seek financial assistance from the centre as well. Sanctioned in 2007 by the Centre, actual work on the group is expected to bring next year. The first two corridors of Metro will also run into Panchkula and Mohali. The Metro network will be underground inside Chandigarh's territory so that it does not block the skyline of the city.