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.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

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.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Real Estate

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Infrastructure Urban

07 Jul 2026

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..