Mumbai: Mumbai Metro 4 project is most likely to be funded by Japan International Cooperation Agency (JICA). Earlier talks were on with Asian Infrastructure Investment Bank (AIIB) for funding the project which is a 32.32km rail network.
The Additional Metropolitan Commissioner, Mumbai Metropolitan Region Development Authority (MMRDA), Pravin Darade, said that they have received in-principle from JICA. The international funding agency will be funding for Metro 4, 5,6 and Metro 9 corridors respectively. Darade stated that since JICA is offering better interest rate, MMRDA has accepted their proposal over AIIB.
The state government is also holding talks with New Development Bank (NDB) for funding other corridors. Darade shared that NDB has also given in-principle approval to fund Metro 8, Metro 10, Metro 11 and Metro 12 projects.
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With this funding approval, MMRDA has now received funding for all its corridors.
The reason for selecting JICA as funding agency is due to the fact that they have a clause that allows government to appoint contractors under its ‘Make in India’ initiative. JICA that is also funding Metro 3 corridor, the Mumbai Metro Rail Corporation Limited (MMRC) has appointed contractors who will manufacture the rakes in India.
In the intervening time, the Asian Development Bank (ADB) has not given consent to the MMRDA to have the Make in India in its clause while inviting bids for Metro 2A and 7 rakes.
- The Metro 4 project will be connecting Wadala to Kasarvadavalli in Thane.
- On the other hand Metro 5 will be aid in improving connectivity in the Mumbai Metropolitan Region connecting Thane, Bhiwandi and Kalyan.
- The east-west connectivity between Swami Samarth Nagar in Andheri West and Vikhroli will be provided by Metro 6.
- The existing airport to the proposed airport in Navi Mumbai will be connected via Metro 8.
- Metro 9 on the other will offer an extension from Dahisar to Mira-Bhayandar.
- Metro 10 will link Gaimukh to Shivaji Chowk.
- Metro 11 will start from Wadala to GPO
- Metro 12 would be constructed between Kalyan and Taloja.