JICA to start consultation for funding of Mumbai Metro

JICA's move comes after the decision by MMRDA to sanction Rs 35,400 cr to develop 118-km Metro network

Bharatiya Janata Party (BJP)-led government in Maharashtra on Friday recieved a major boost after the Japan International Cooperation Agency (JICA) reiterated its commitment to provide funds to a slew of infrastructure projects, including Mumbai Metro network expansion and Mumbai Trans Harbour Link (MTHL) project.

JICA’s assurance came during meeting with the visiting state Chief Minister Devendra Fadnavis in Tokyo. These projects envisage investment of over Rs 60,000 crore. JICA has assured Fadnavis to start next week a public consultation on Mumbai Metro and also fast-track funding for the Rs 11,000-crore MTHL.

 

JICA’s move comesafter the recent decision by the state-run Mumbai Metropolitan Region Development Authority (MMRDA) to sanction Rs 35,400 crore for the development of 118-km Metro network in the city. This includes a 40-km Dahisar-Charkop-Bandra-Mankhurd Metro-2 corridor (Rs 12,000 crore), a 40-km Wadala-Ghatkopar- Thane-Kasarvadavali Metro-4 corridor via Wadala GPO and R A Kidwai Marg (Rs 12,000 crore), a 27-km Dahisar-E-Andheri-E-Bandra-E Metro-5 corridor (Rs 8,100 crore) and a 11-km Jogeshwari-Vikhroli Link Road Metro-6 corridor (Rs 3,300 crore).

Further, MMRDA has accepted two detailed project reports, one for the 16.5-km Andheri-E to Dahisar-E Metro corridor and the other for the 18.6-km Dahisar to D N Nagar Metro corridor, prepared by the Delhi Metro Rail Corporation.

The reports have recommended these two corridors estimated at Rs 4,737 crore and Rs 4,994 crore, respectively, for the state approval.

MMRDA has recommended, to the State, raising of funds from various financial institutions such as World Bank, JICA and other national and international financial institutions.

Further, JICA assured Fadnavis to fast-track funding for the 22-km MTHL with the proposed investment of Rs 11,000 crore. JICA has already expressed its desire to provide 80 per cent or Rs 8,800 crore of the finance as loan for the project. The government proposes to start bidding for MTHL by the end of December.

Meanwhile, the state government plans to set up Japanese Industrial Park at Supa in Ahmednagar district with support from Japan External Trade Organisation (JETRO).