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Press Releases

October 1, 2018

Signing of Japanese ODA Loan Agreements with India: All Aboard to India! The Japanese Shinkansen to become an economic driving force in India

photosigning ceremony

On September 28, the Japan International Cooperation Agency (JICA) signed loan agreements with the Government of India in Delhi to provide Japanese ODA loans of up to a total of 115.45 billion yen for the following two projects.

(1) Project for Construction of Mumbai – Ahmedabad High Speed Rail (I) (loan amount: 89.547 billion yen)
(2) Kolkata East-West Metro Project (III) (loan amount: 25.903 billion yen)

Details for the projects are provided below.

(1) Project for Construction of Mumbai – Ahmedabad High Speed Rail (I)
(a) Objective and Summary
The objective of the project is to construct a new high speed rail that utilizes the Japanese Shinkansen system along an interval of about 500 kilometers (12 stations) between Mumbai in Maharashtra State and Ahmedabad in Gujarat State. The new rail will make transportation between Mumbai, the second largest city in India, and Ahmedabad, the fifth largest commercial and industrial city possible in about two hours, one-third of the time required with a conventional limited express train. With this advancement of a mass transit system, the project also aims to reduce traffic pollution, to strengthen intraregional connectivity, and to enhance wide-ranging economic development of the target areas.

(b) Executing Agency
National High Speed Rail Corporation Limited
Address: 2nd Floor, Asia Bhawan, Road No. 205, Sector 9, Dwarka, New Delhi, 110077, India
Phone: +91-11-2373-4540, fax: +91-11-2373-4542

(c) Planned Implementation Schedule
1. Completion of project: December 2023 – when the facilities are put into service
2. Issuing of letters of invitation for consulting services (including construction supervision): Currently in the process of hiring.
3. Tender announcement of initial procurement package for international competitive bidding on project construction:
Procurement package title: Construction of PSC Bridge No. GAD 10 over National Highway (NH-48) at MAHSR Km 235.379, Navsary district, Gujarat for Mumbai-Ahmedabad High Speed Rail Project
Release date: June 2018 (already announced)
4. JICA Contact Information
For further information about the procurement schedule, please contact the party listed below.
JICA India Office
Address: 16th Floor, Hindustan Times Building, K.G.Marg New Delhi, 110001, India
Phone: +91-11-4909-7000, fax: +91-11-4909-7001/7002/7003/7004

(2) Kolkata East-West Metro Project (III)
(a) Objective and Summary
By constructing a mass rapid transit system in the Kolkata Metropolitan Area, which is located in West Bengal State, the project will address the increasing need for transportation. This will contribute to regional economic development and improvements to the urban environment through reduced traffic congestion and traffic pollution in the metropolitan area.

(b) Executing Agency
Kolkata Metro Rail Corporation Limited
Address: HRBC Complex, KMRCL Bhawan, 2nd & 3rd Floors, Munshi Premchand Sarani, Kolkata, 700021, India
Phone: +91-33-6607-1117, fax: +91-33-2213-4380

(c) Planned Implementation Schedule
1. Completion of project: June 2021 – when the facilities are put into service
2. Issuing of letters of invitation for consulting services (including detailed design work): Consultants have already been hired
3. Tender announcement of initial procurement package for international competitive bidding on project construction: Already contracted

Terms and Amounts of Loans

Project title Amount (million yen) Annual interest rate (%) Repayment
period
(years)
Grace
period
(years)
Procurement
Project Consulting services
Project for Construction of Mumbai – Ahmedabad High Speed Rail (I) 89,547 0.1 0.1 50 15 Tied
Kolkata East-West Metro Project (III) 25,903 1.2 0.01 30 10 General, untied

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