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Mumbai Metro: JICA Provides Rs 4,657 Crore Funding for Line 3

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On 5 July, Mumbai’s first fully underground metro Line (Aqua Line) received a substantial boost as the Japanese International Cooperation Agency (JICA) Signed a Rs. 4,657 crore loan agreement with the Government of India for the Mumbai Metro Line 3 project. This agreement represents the fifth and final instalment of the official development assistance (ODA) loan for the Mumbai Metro Line 3.

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Mumbai Metro: JICA Provides Rs 4,657 Crore Funding for Line 3 3

Manisha Sinha, Additional Secretary of the Department of Economic Affairs in the Ministry of Finance, and Hiroshi Suzuki, Ambassador of Japan to India, signed the loan agreement.

Mumbai Metro Line 3 Project Cost

On February 29, 2024, the Government of India approved the Line 3 project with a revised cost of Rs 37,276 crore. As per Mumbai Metro Rail Corporation (MMRC), the implementing agency for the Mumbai Metro Line 3 project, the first loan instalment was received on September 7, 2013, from JICA. The fifth instalment of Rs.  4,657 crore signifies the completion of the funding for the project.

Mumbai Metro Line 3

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Mumbai Metro: JICA Provides Rs 4,657 Crore Funding for Line 3 4

Mumbai Metro’s Line 3, or Aqua Line, covers a total distance of 33.5 km, connecting Aarey Colony with Cuffe Parade via BKC. This line features 27 stations, 26 of which are underground and 1 at-grade station. Aqua Line will become operational in Phases. The operations in Phase 1 which spans from Aarey to BKC are expected to commence this year.

Once fully operational, the Aqua Line will provide substantial time savings for commuters. The journey from Domestic Airport station to Cuffe Parade station, which currently takes over 2 hours due to traffic, will be reduced to just 45 minutes by metro.

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