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The Delhi government has released Rs 100 crore for the Signature Bridge project, which was hit by a "fund crunch", slowing down its last phase construction, Tourism Minister Rajendra Pal Gautam said today.
He said the finance department has sanctioned the amount after examining the contractor's demand for an additional Rs 250 crore. The total cost of the project is around Rs 1,500 crore.
"The fresh infusion of funds will ensure that work, which had considerably slowed down, resumes. Around 92 per cent of the project is completed. We might release more depending on the justification of the demand," he said.
The government has set December 2017 as the deadline of the project, located over the Yamuna in Wazirabad. A bow- shaped steel pylon of the bridge, which was conceptualised by the Sheila Dikshit government in 2004, will be twice as high as the Qutub Minar.
It is being executed by the Delhi Tourism Department.
Being built on the lines of the London Bridge, it was meant to be showcased during the 2010 Commonwealth Games. The initial project cost was pegged at around Rs 1,131 crore, which was later revised to Rs 1,575 crore.
In January, Lt Governor Anil Baijal had directed the authorities concerned to send to him a monthly-progress report of the project.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)