JICA to start public consultation for Mumbai Metro funding

JICA to start public consultation for Mumbai Metro funding

Will also fast track financing of Rs.11,000 Crore MTHL project

Mumbai: The Maharashtra government today recieved a major boost after the Japan International Coooperation Agency (JICA) reiterated its commitment to fund a slew of infrastructure projects. These projects include Mumbai Metro network expansion and also the Mumbai Trans Harbour Link (MTHL) project.

JICA’s assurance came during a meeting with state chief minister Devendra Fadnavis who is on a Tokyo visit. These projects will require an investment of over Rs 60,000 crore. JICA also assured Fadnavis that it would start public consultation on Mumbai Metro next week and also fast track funding for the Rs 11,000 crore Mumbai Trans Harbour Link.

JICA’s assurance comes close on the recent decision by the state run Mumbai Metropolitan Region Development Authority (MMRDA) to sanction the expenditure of 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, Japan International Cooperation Agency and other national and international financial institutions.

Further, JICA also assured Fadnavis that it would 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% or Rs 8,800 crore of the finance as loan for the project. The government proposes to start bidding for MTHL by December end.

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