Central govt releases Rs 250 cr to DMRC for Phase III project 07/10/2014

Central govt releases Rs 250 cr to DMRC for Phase III project
07/10/2014 12:10
According to media reports, Central government has released its equity contribution of Rs 250 crore to the Delhi Metro Rail Corporation (DMRC) for construction work of Phase III projects. "We have released an amount of Rs 250 crore to DMRC as part of the Government of India's share towards equity for meeting the cost of Delhi MRTS Phase III projects for the current 2014-2015 year," said an official of Ministry of Urban Development. The official said that this amount shall consist of 25,00,000 shares of face value of Rs 1,000 each, added the media report. "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. He said that a total amount of Rs 7883.36 crore has been released earlier as equity to DMRC by Urban Devlopment Ministry.