April 2, 2018
New Delhi, April 2, 2018: Japan International Cooperation Agency (JICA) signed an agreement with the Government of India to provide Official Development Assistance (ODA) loan of 100,000 million Japanese Yen (approximately INR 6,000 crore) for the second tranche of the "Mumbai Metro's Line 3 Project". The ODA loan's conditions are very concessional ,i.e. 1.5% interest rate for project activities and 0.01% interest rate for consulting services, and 30 years of repayment (including 10 years of the grace period).
The objective of the project is to cope up with the increase of traffic demand in Mumbai by expanding the mass rapid transportation system, thereby promoting regional economic development and improving the urban environment, through mitigation of traffic jams and the decrease of pollution caused by increasing motor vehicles.
The ODA loan agreement was signed between H.E. Mr. Sujan R. Chinoy, Ambassador of India to Japan and Junichi Yamada, Senior Vice President, JICA at the Iikura House of the Ministry of Foreign Affairs, Tokyo on March 29th, 2018.
Speaking on the occasion, Mr. Takema Sakamoto, Chief Representative, JICA India Office said, "Once the Project is complete, it will help in coping with the increasing demand for transport requirements by the residents in Mumbai. It will expand the city's mass rapid transportation system and will make commuting safer and mobility easier in Mumbai. JICA remains committed to persevering the environment in Mumbai and by assisting the Mumbai Metro Project, JICA aims to reduce air pollution and improve the air quality significantly through modal shift, for the residents of Mumbai especially children and senior citizens. Reduction in traffic accidents is expected as well."
Mumbai Metro Rail Corporation Limited (MMRCL) is the Executing Agency of the Project.
According to data from Mumbai Traffic Police, more than 30 lakh vehicles are registered with Mumbai's regional transport office (accumulated total vehicles as of January 2017), and the number keeps growing. This assistance from JICA will benefit Mumbai residents by reducing traffic on Mumbai's roads leading to faster commute within the city and also improve Mumbai's environment by lessening pollution and traffic accidents.
The total length of 33.51 kms, Line 3 (Colaba-Bandra-SEEPZ) of Mumbai Metro Project will connect Southern Mumbai with areas of high economic activity, such as Bandra Kurla Complex (BKC), Airport (Domestic and International), Maharashtra Industrial Development Corporation (MIDC) area, SEEPZ (Industrial Hub) and the area along Jogeshwari–Vikhroli Link Road (JVLR), which has tremendous potential for development. Line 3 will be underground, a first such section of Mumbai Metro Project, and some remarkable work techniques are being used to develop the Line. These continuous automatic train control systems are equipped with Automatic Train Protection (ATP) and Automatic Train Stop (ATS) subsystems, which are being introduced in all sections to ensure the safety and reliability of operations on Line 3.
Overall, JICA has extended concessional ODA loans worth over 1 trillion Japanese Yen (approximately INR 60,000 crore) for the development of metro systems in Delhi, Bengaluru, Kolkata, Chennai, Mumbai and Ahmedabad.
Construction site at Chhatrapati Shivaji International Airport. Metro Line 3 will improve access to both the international and domestic terminals.
Inside the tunnel, Tunnel Boring Machine (TBM) has initiated boring.
The Signing Ceremony took place between H.E. Mr. Sujan R. Chinoy, Ambassador of India to Japan (left) and Junichi Yamada, Senior Vice President, JICA (right) in presence of Mrs. Sushma Swaraj, Minister of External Affairs of India (extreme left) and Mr. Taro Kono, Minister for Foreign Affairs (extreme right)
Established, by a specific law, as an independent administrative institution under the Government of Japan, the Japan International Cooperation Agency (JICA) aims to contribute to the promotion of international cooperation, as a sole Japanese governmental agency in charge of ODA implementation. JICA is the world's largest bilateral donor agency. JICA works as a bridge between Japan and emerging countries, and provides assistance in forms of loan, grant and technical cooperation so that the emerging countries can strengthen their capabilities.
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