Mumbai's Underground Revolution: JICA's Rs 4657 Crore Loan for Metro Line 3
Mumbai's first underground metro project gets a boost with JICA's loan for 27 stations, connecting 6 business districts and more.
Mumbai MetroJica LoanUnderground MetroRapid Transit NetworkInfrastructure DevelopmentReal Estate MumbaiJul 06, 2024
The loan agreement was signed by Department of Economic Affairs (DEA) additional secretary Manisha Sinha and Ambassador of Japan to India Hiroshi Suzuki, marking the completion of JICA's funding commitment for Metro Line 3. The total project cost, revised to Rs 37,276 crore as approved by the Government of India on February 29, 2024, includes a JICA loan of Rs 21,280 crore, constituting 57.09% of the total.
Mumbai Metro Rail Corporation (MMRC) has expressed gratitude towards JICA for its steadfast support for metro projects in India, particularly in Mumbai. According to MMRC, JICA has been a crucial partner since the project's inception, facilitating its progress towards operational readiness.
Once completed, the underground corridor with 27 stations will connect six business districts, 30 educational institutions, 30 recreational facilities, and both domestic and international airport terminals. The metro is expected to accommodate over 16 lakh commuters daily, revolutionizing the city's transportation landscape.
Information
The Mumbai Metro Rail Corporation (MMRC) is a joint venture company of the Government of India and the Government of Maharashtra, responsible for the development and implementation of metro rail projects in Mumbai.
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The Japanese International Cooperation Agency (JICA) is a Japanese government agency responsible for providing economic and technical assistance to developing countries.
Frequently Asked Questions
What is the total project cost of Mumbai Metro Line 3?
The total project cost of Mumbai Metro Line 3 is Rs 37,276 crore, with a JICA loan of Rs 21,280 crore.
How many stations will be connected by the underground corridor?
The underground corridor will connect 27 stations, including six business districts, 30 educational institutions, and 30 recreational facilities.
What is the expected daily ridership of the metro?
The metro is expected to accommodate over 16 lakh commuters daily.
What is the role of JICA in the Mumbai Metro project?
JICA has been a crucial partner since the project's inception, providing financial assistance and facilitating its progress towards operational readiness.
When is the metro expected to start operations?
The metro is expected to start operations soon, with the exact date to be announced soon.
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