The Delhi Metro Rail Corporation (DMRC) Board on Monday approved the ₹46,000-crore Phase IV proposal.
It will now be sent to the Delhi Cabinet for clearance. Following cost revision, the State government had asked the DMRC Board to give the project fresh clearance.
The total cost of the project was reduced from ₹52,000 crore to around ₹46,800 crore. In November, the government had sought fresh approval from the DMRC Board due to changes in the funding pattern.
Detailed project report
The DMRC had submitted the first detailed project report (DPR) of Phase IV in 2014.
However, approval from the government was pending for over four years due to various issues, including finances. The approximately 104-km-long Phase IV, having six corridors, will come up following approval from the Cabinet, said an official.
Earlier, the Finance Department of the government had called three of the six corridors as “financially unviable.”