JICA Signs Rs 15,295 Crore Agreement For Major Rail Infra Projects

The Japan International Cooperation Agency (JICA), the Japanese government funding agency, has signed agreements with the Indian government for three rail infrastructure projects, totaling Rs 15,295 crore. The agency has granted an amount of Rs 8,553 crore for phase 1 of the Dedicated Freight Corridor (DFC); Rs 4,262 crore for the Mumbai Trans Harbour Link Project and an amount of Rs 2,480 crore for the Mumbai Metro Line 3 project, according to a report in the Financial Express.

Once the construction of the Mumbai Trans Harbour Link (MTHL) is completed, it will connect Mumbai with Navi Mumbai and will promote economic development as well as mitigate traffic congestion.

According to JICA, the loan assistance of Rs 2,480 crore for the construction of the Mumbai Metro rail project will help to cope up with the increase in India’s freight transport demand by developing a dedicated freight railway system between Delhi-Mumbai. With a total length of 33.7 km, entailing 26 number of stations, Line 3 (Colaba-Bandra-SEEPZ) is planned to link southern part of Mumbai with the major activity areas such as the Bandra Kurla Complex, Maharashtra Industrial Development Corporation area, Airport (Domestic and International), SEEPZ as well as the area along the Jogeshwari-Vikhroli Link Road. The metro rail project is likely to be completed by next year.