The Centre, on Tuesday, approved the Delhi Metro phase III project. It will cost the corporation an estimated Rs 35,242 crore. The 103.5 km network will have five corridors: Mukundpur-Yamuna Vihar, Janakpur West-Kalandikunj, Central West-Kalandikunj, Central Secretariat-Kashmere Gate and Jehangirpuri-Badli.

The decision was taken at a meeting of Empowered Group of Ministers (EGoM) chaired by Finance Minister Pranab Mukherjee. Delhi Chief Minister Sheila Dikshit, Lt Governor Tejinder Khanna, DMRC Chairman and Managing Director E Sreedharan and Planning Commission Deputy Chairman Montek Singh Ahluwalia were also present at the meeting.

"The EGoM approved the phase III. There are supplementary demand requests for extension both by Haryana and Delhi. Those will come later on," said Dikshit.

The Centre and state governments will give Rs 7,497 crore as equity and Rs 5,100 crore as interest-free subordinate debt for land acquisition and Central taxes. As many 67 stations with 15 inter-change points will be there in the network.