JICA signs Rs 15,295 crore loan pacts for major rail projects

A funding agency of Japanese govt named JICA has confirmed agreements of total Rs 15,295 cr with the Indian govt for 3 mega rail infrastructure projects.

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MUMBAI (Metro Rail News): A funding agency of Japanese govt named JICA has confirmed agreements of total Rs 15,295 cr with the Indian govt for 3 mega rail infrastructure projects. JICA has awarded Rs 8,553 cr for the first phase of the Dedicated Freight Corridor, Rs 4,262 cr for Mumbai Trans Harbour Link Project and Rs 2,480 cr for the Mumbai Metro Line-3 Project, in these deals.

JICA stated the Rs 8,553-cr loan for the Dedicated Freight Corridor project for the first phase comes with the objective to cope up with the rise in freight transport demand by constructing new dedicated freight railway system among Delhi-Mumbai in India. It would support comprehensive regional economic development with the freight corridor as the backbone of the Delhi to Mumbai Industrial Corridor development plan stated the funding agency that gives long-term low-cost loans for the development projects to many countries.

Chief representative of JICA India, Katsuo Matsumoto told that JICA is performed to the development of infrastructure in the transportation field. The Western Dedicated Freight Corridor runs in Delhi-Mumbai and covers the cities where significant commercial or industrial development is viewed.

The Rs 2,480-cr loan awarded for the development of the Mumbai metro rail project would help to cope up with the progress in freight transport demand in India by constructing new dedicated freight railway system within Delhi-Mumbai, JICA stated.

Matsumoto told that given the rise in population in Mumbai there is an essential requirement for the project in the Mumbai Metropolitan Region (MMR). Mass Rapid Transport systems (MRTS) also help in decreasing pollution generated by private vehicles and enhancing living conditions. “The current situation highlights the necessity for MRTS in Mumbai and also tries at easing mobility and connectivity,” JICA stated.

The total distance of 33.7 km involving twenty-six stations, Line 3 Colaba-Bandra-SEEPZ is designed to connect southern Mumbai with some of the major activity sectors like the Bandra Kurla Complex, Airport, Maharashtra Industrial Development Corporation area, SEEPZ and area with the Jogeshwari-Vikhroli Link Road. The project is scheduled to be completed by 2021.

The Mumbai Metro would help in tackling congestion as the regular ridership volume for 2021 is considered as 1.21 million every day and would reach 1.70 million every day in 2031. With Mumbai Metro Line-3 assumed travel time from domestic airport station-BKC station would be less than seven min and from BKC-Cuffe Parade it would be less than 40 min according to JICA.

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