New Delhi: The Ministry of Urban Development (MoUD) has released its equity contribution of Rs 250 crore to the Delhi Metro Rail Corporation (DMRC) for construction work of Metro Phase-III projects for the current 2014-2015 year.
The audited statement of account relating to transfer of this amount of Rs 250 crore to the equity of DMRC shall be furnished to Urban Development Ministry after the close of financial year together with a certificate that the amount has been utilised for the purpose for which it was sanctioned,” the official said.
Almost two months ago, the Delhi government had also released its equity contribution of Rs 200 crore to DMRC for construction work of its Phase-III project. Interest earned on equity before issue of shares, if any, would be adjusted against the contribution of Delhi government. Besides, DMRC would ensure time-bound progress of the project.
It will also furnish monthly physical and financial progress to transport, planning and finance department,” the government said.
Bureau Report
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