Mumbai Metro Line 3 Receives Final Funding Boost from JICA
The Japanese International Cooperation Agency (JICA) has signed a loan agreement to provide the final tranche of INR 4,657 crore for Mumbai Metro Line 3, completing the funding for the 33.5 km underground metro line.
Mumbai Metro Line 3JicaMmrcInfrastructure DevelopmentPublic TransportationReal Estate MumbaiJul 15, 2024
The Mumbai Metro Rail Corporation (MMRC) expressed gratitude towards JICA for their steadfast support in completing the project. R Ramana, Director for Planning and Real-Estate Development at MMRC, praised JICA's efforts, saying they have been an invaluable partner in helping MMRC move towards starting operations soon.
The metro line is expected to have a significant impact on the city's transportation network, connecting six different business districts, 30 educational institutions, 30 recreational facilities, and the domestic and international airport. It is expected to accommodate more than 16,00,000 commuters daily, making it a game-changer for Mumbai's residents.
Information
The Mumbai Metro Rail Corporation (MMRC) is a joint venture between the Government of India and the Government of Maharashtra to develop a world-class metro system for Mumbai. The MMRC is responsible for the planning, design, construction, and operation of the metro system in Mumbai.
The Japanese International Cooperation Agency (JICA) is a governmental agency that provides technical and financial assistance to developing countries. JICA has been actively involved in various infrastructure development projects in India, including the Mumbai Metro Line 3 project.
Frequently Asked Questions
What is the total cost of the Mumbai Metro Line 3 project?
The revised project cost of Metro Line 3 is INR 37,276 crore.
How much funding has JICA provided for the Mumbai Metro Line 3 project?
JICA has provided 57.09% of the total funding, which amounts to INR 21,280 crore.
How many commuters is the metro line expected to serve daily?
The metro line is expected to accommodate more than 16,00,000 commuters daily.
What is the length of the Mumbai Metro Line 3?
The metro line is 33.5 km long and connects Colaba to SEEPZ in Andheri.
Who is responsible for the operation of the Mumbai Metro Line 3?
The Mumbai Metro Rail Corporation (MMRC) is responsible for the planning, design, construction, and operation of the metro system in Mumbai.
Related News Articles
Unlocking Opportunities in the Real Estate Insurance Market: Trends, Insights, and Projections
Discover the latest trends, challenges, and opportunities in the real estate insurance market, featuring key players, regional analysis, and market segmentation.
Pune Real Estate Market Sees 50% Jump in Registered Transactions, Average Home Price Reaches Record High
The number of real estate transactions in Pune has increased significantly, with registered transactions surging by 50% in the April-June 2024 quarter.
Haryana and Jammu & Kashmir Assembly Election Dates Announced by EC; Results to be Declared on October 4
The Election Commission of India has announced the dates for the Haryana and Jammu & Kashmir assembly elections. The polls will be held in a single phase on October 21, and the results will be declared on October 4.
Century Textiles Acquires 10-Acre Land in Mumbai for ₹1100 Crore, Expects ₹14,000 Crore in Revenue
Century Textiles plans to develop the land through its real estate subsidiary Birla Estates, expecting ₹14,000 crore in revenue from the project.
Virgo Daily Horoscope for September 14, 2024: A Temporary Setback in Assets and Real Estate Deals
Be cautious with real estate deals today, as a temporary decline in assets may occur. However, this setback will be short-lived.
DLF Q2 Earnings Skyrocket: Net Profit Surges to ₹1381 Crore
DLF, India's leading real estate firm in terms of market capitalization, has reported a remarkable surge in its Q2 net profit, jumping over twofold to ₹1381 crore. The company, primarily engaged in the development and sale of residential and commercial pr