Mumbai: The Japanese International Cooperation Agency (JICA) on Friday signed an agreement to provide the fifth and final tranche of loan of Rs 4,657 crore for the Mumbai Metro Line 3 project, a key corridor of the rapid transit system in the financial capital.
With this, the Japanese government agency has completed funding for a 33.5 km fully underground metro line operated by MMRC that connects Colaba in South Mumbai to SEEPZ in Bandra and Andheri (East) in the western suburbs.
The loan agreement was signed by Manisha Sinha, Additional Secretary, Department of Economic Affairs (DEA) and Hiroshi Suzuki, Ambassador of Japan to India.
In a release, the Mumbai Metro Rail Corporation (MMRC) said the JICA loan agreement for Tranche V, amounting to JPY 84 billion (Rs 4,657 crore), completes the funding for Metro Line 3.
The first tranche agreement was signed on September 7, 2013, the release said.
As per the Government of India approval on February 29, 2024, the revised project cost of Mumbai Metro Line 3 is Rs 37,276 crore, of which 57.09 per cent is JICA loan of Rs 21,280 crore.
MMRC said the signing of the final tranche of the loan agreement underlines JICA's unchanged commitment to metro projects in India, especially Mumbai.
R Ramana, Director (Planning and Real-Estate Development/NFBR), MMRC, said, “Since the inception of the Metro project, JICA has been an invaluable partner, continuously assisting in its progress towards operationalization soon. "
According to MMRC, upon completion, this underground corridor with 27 stations will connect six business districts, 30 educational institutions, 30 recreational facilities, domestic and international airport terminals and will have a capacity to carry more than 16 lakh passengers per day. Is.
With this, the Japanese government agency has completed funding for a 33.5 km fully underground metro line operated by MMRC that connects Colaba in South Mumbai to SEEPZ in Bandra and Andheri (East) in the western suburbs.
The loan agreement was signed by Manisha Sinha, Additional Secretary, Department of Economic Affairs (DEA) and Hiroshi Suzuki, Ambassador of Japan to India.
In a release, the Mumbai Metro Rail Corporation (MMRC) said the JICA loan agreement for Tranche V, amounting to JPY 84 billion (Rs 4,657 crore), completes the funding for Metro Line 3.
The first tranche agreement was signed on September 7, 2013, the release said.
As per the Government of India approval on February 29, 2024, the revised project cost of Mumbai Metro Line 3 is Rs 37,276 crore, of which 57.09 per cent is JICA loan of Rs 21,280 crore.
MMRC said the signing of the final tranche of the loan agreement underlines JICA's unchanged commitment to metro projects in India, especially Mumbai.
R Ramana, Director (Planning and Real-Estate Development/NFBR), MMRC, said, “Since the inception of the Metro project, JICA has been an invaluable partner, continuously assisting in its progress towards operationalization soon. "
According to MMRC, upon completion, this underground corridor with 27 stations will connect six business districts, 30 educational institutions, 30 recreational facilities, domestic and international airport terminals and will have a capacity to carry more than 16 lakh passengers per day. Is.
