Seek help from Delhi govt to repay loan from Japan: Centre to DMRC

The Centre has asked the Delhi Metro Rail Corporation to approach the city government for financial assistance for repayment of the soft loan it had taken from Japan International Cooperation Agency (JICA) for various projects.

The DMRC had received a total loan of Rs 35,198 crore from JICA.

"We have received such a communication from the ministry recently. The same is being examined and processed," said Anuj Dayal, Executive Director, DMRC.

He responded to a query over reports that the Union Ministry of Housing and Urban Affairs has directed all metros to write to their respective state governments for assistance regarding repayment of loans taken from external lending agencies.

The loan was given to the Delhi Metro at a concessional rate of interest varying from 1.2 per cent to 2.3 per cent, and was repayable in 30 years with a moratorium of 10 years.

Till now, the DMRC has repaid Rs 3,337 crore to JICA, and the balance liability was of Rs 31,861 crore.

Delhi Metro operations have been closed for the public since March 22 in view of the COVID-19 pandemic and measures taken to curb the spread of the disease.

This closure of services in the past few months has led to a loss in revenue for the urban transporter worth around Rs 1,300 crore.

On Friday, sources said, the DMRC has not yet approached the Delhi government on the loan issue.

For financial year 2020-21, DMRC is required to pay Rs 1,242.83 crore (Rs 434.15 crore interest and Rs 808.68 crore principal) to the Centre towards JICA loan for the loan.

The DMRC has paid Rs 79.19 crore on account of interest during this year, and a balance of Rs 1,163.64 crore (Rs 354.96 cr interest and Rs 808.68 cr principal) is yet to be paid during the current financial year, sources said.