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

01 Apr 2020 CW Staff

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.

Infrastructure Urban

06 Apr 2026

CFI Appoints New National Council for FY27 and FY28

The Construction Federation of India (CFI) has announced its newly elected National Council and office bearers for a two-year term covering FY27 and FY28. M. V. Satish, Advisor to CMD and Lead Ambassador for Middle East, L&T, has been elected President; Priti Patel, Chief Strategy & Growth Officer, Tata Projects, has been appointed Vice President; and Ajit Bhate, Managing Director, Precast India Infrastructures, has taken charge as Treasurer.The newly formed National Council brings together senior leaders from major EPC and infrastructure companies, reflecting CFI’s continued focus o..

Infrastructure Urban

06 Apr 2026

India REIT Market Gains Momentum with Strong Returns

India’s Real Estate Investment Trust (REIT) market is witnessing strong growth, emerging as a competitive investment avenue both domestically and across Asia. According to a recent ANAROCK report released at EXCELERATE 2026 by NAREDCO Maharashtra NextGen, the sector is evolving into a mature asset class driven by solid fundamentals, regulatory backing and rising investor confidence.The introduction of Small and Medium REITs (SM REITs) in 2025 has further widened access through fractional ownership, unlocking a potential monetisation opportunity of Rs 670–710 billion. Indian REITs have deli..

Infrastructure Energy

06 Apr 2026

G R Infraprojects Secures Rs 4,130 Million BESS Contract From NTPC

G R Infraprojects said it has secured a contract from NTPC to supply and implement a battery energy storage system (BESS) valued at Rs 4,130 million (mn). The company reported the order was awarded as part of NTPC's ongoing efforts to enhance grid flexibility and energy storage capacity. The contract represents a notable addition to the firm's project pipeline and underscores demand for utility scale storage solutions. The award is expected to strengthen G R Infraprojects' presence in the energy infrastructure sector and to contribute to the firm's order book and future revenues, subject to st..