+
JICA extends ODA loan of Rs 24.80 bn for Mumbai Metro Line 3 Project (III)
PORTS & SHIPPING

JICA extends ODA loan of Rs 24.80 bn for Mumbai Metro Line 3 Project (III)

Japan International Cooperation Agency (JICA) has signed an agreement with the Government of India to provide an Official Development Assistance (ODA) loan of 39,928 million Japanese Yen (approximately Rs 24.80 billion) for the “Mumbai Metro Line 3 Project (III)”.

The objective of the project is to cope with the increase in traffic demand in Mumbai by expanding the mass rapid transportation system, thereby promoting regional economic development and improving urban environment, through mitigation of traffic jams and decrease of pollution caused by increasing motor vehicles.

The ODA loan agreement was signed between Dr CS Mohapatra, Additional Secretary, Department of Economic Affairs, Ministry of Finance, and Katsuo Matsumoto, Chief Representative, JICA India.

Speaking on the occasion, Katsuo Matsumoto, Chief Representative, JICA India, said, “Given the increase in population in Mumbai, there is an essential need for the project in Mumbai Metropolitan Region (MMR). Mass Rapid Transport systems also help in reducing pollution caused by private vehicles and improving living conditions. The current situation highlights the need for MRTS in Mumbai, and aims at easing mobility and connectivity.”

With a total of 33.7 km, entailing 26 stations, Line 3 (Colaba-Bandra-SEEPZ) is planned to connect southern Mumbai with the major activity areas like 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 got tremendous potential for new developments.

Also read: Mumbai Metro Line 3 witnesses 23rd tunnel breakthrough

The Mumbai Metro will help in tackling congestion, as the daily ridership volume for 2021 is estimated as 1.21 million per day and will reach 1.70 million per day in 2031. By Mumbai Metro Line-3, the expected travel time from Domestic Airport station to BKC station will be less than seven minutes and from BKC station to Cuffe Parade station will be less than 40 minutes.

Also read: HCC completes first tunnel for Mumbai Metro-III project 

The project is scheduled to be completed by 2021. Mumbai Metro Rail Corporation (MMRCL) is the Executing Agency of the Project.

Overall, JICA has extended concessional ODA loans worth over 1 trillion Japanese Yen (approximately Rs 600 billion) for the development of metro systems in Delhi, Bengaluru, Kolkata, Chennai, Mumbai and Ahmedabad.

Japan International Cooperation Agency (JICA) has signed an agreement with the Government of India to provide an Official Development Assistance (ODA) loan of 39,928 million Japanese Yen (approximately Rs 24.80 billion) for the “Mumbai Metro Line 3 Project (III)”. The objective of the project is to cope with the increase in traffic demand in Mumbai by expanding the mass rapid transportation system, thereby promoting regional economic development and improving urban environment, through mitigation of traffic jams and decrease of pollution caused by increasing motor vehicles. The ODA loan agreement was signed between Dr CS Mohapatra, Additional Secretary, Department of Economic Affairs, Ministry of Finance, and Katsuo Matsumoto, Chief Representative, JICA India. Speaking on the occasion, Katsuo Matsumoto, Chief Representative, JICA India, said, “Given the increase in population in Mumbai, there is an essential need for the project in Mumbai Metropolitan Region (MMR). Mass Rapid Transport systems also help in reducing pollution caused by private vehicles and improving living conditions. The current situation highlights the need for MRTS in Mumbai, and aims at easing mobility and connectivity.” With a total of 33.7 km, entailing 26 stations, Line 3 (Colaba-Bandra-SEEPZ) is planned to connect southern Mumbai with the major activity areas like 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 got tremendous potential for new developments. Also read: Mumbai Metro Line 3 witnesses 23rd tunnel breakthrough The Mumbai Metro will help in tackling congestion, as the daily ridership volume for 2021 is estimated as 1.21 million per day and will reach 1.70 million per day in 2031. By Mumbai Metro Line-3, the expected travel time from Domestic Airport station to BKC station will be less than seven minutes and from BKC station to Cuffe Parade station will be less than 40 minutes. Also read: HCC completes first tunnel for Mumbai Metro-III project  The project is scheduled to be completed by 2021. Mumbai Metro Rail Corporation (MMRCL) is the Executing Agency of the Project. Overall, JICA has extended concessional ODA loans worth over 1 trillion Japanese Yen (approximately Rs 600 billion) for the development of metro systems in Delhi, Bengaluru, Kolkata, Chennai, Mumbai and Ahmedabad.

Next Story
Infrastructure Urban

India to Invest Rs 600 Billion to Upgrade 1,000 ITIs

As part of its drive to modernise vocational training, the Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with Gujarat’s Labour and Employment Department, held a State-Level Workshop at the NAMTECH Campus within IIT-Gandhinagar to discuss the National Scheme for ITI Upgradation.The consultation brought together key stakeholders from industry and the training ecosystem to align expectations and support implementation of the scheme, which aims to transform 1,000 Industrial Training Institutes (ITIs) across India using a hub-and-spoke model. The total outlay stands ..

Next Story
Infrastructure Urban

India Unveils Rs 600 Billion Maritime Finance Push

The Ministry of Ports, Shipping & Waterways (MoPSW) hosted the Maritime Financing Summit 2025 in New Delhi, bringing together over 250 stakeholders including policymakers, industry leaders, global investors, and financial institutions. The summit, held under the ambit of Maritime Amrit Kaal Vision (MAKV) 2047, focused on transforming India into a leading maritime power with strengthened financial, infrastructural, and technological capabilities.Union Minister Sarbananda Sonowal emphasised India's strategic progress, noting that average port turnaround times have dropped from four days to u..

Next Story
Infrastructure Urban

Govt Allocates Rs 500 Million To Boost Community Radio

The Central Government, through its ‘Supporting Community Radio Movement in India’ scheme, has allocated Rs 500 million to strengthen the community radio ecosystem across the country. The initiative aims to assist both newly established and long-operational Community Radio Stations (CRSs), ensuring their relevance to local educational, social, cultural, and developmental needs.According to the policy published by the Ministry of Information and Broadcasting, CRSs may be set up by not-for-profit organisations with at least three years of demonstrated community service. These stations are ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?