MMRDA proposes to split loan for Mumbai Trans Harbour Link project

The Mumbai Metropolitan Region Development Authority (MMRDA) has proposed splitting the loan for the Mumbai Trans Harbour Link (MTHL) project into two parts. The Japan International Cooperation Agency (JICA)has given in-principle approval for funding Rs 142 billion (80 per cent of project cost), of which, to begin with, the MMRDA can borrow around Rs 70 billion. After a few years, the MMRDA can borrow the remaining amount through a second loan from the agency. The MTHL is proposed to be developed as an expressway link with a six-lane dual carriageway road bridge and rail bridge connecting Sewri on the Mumbai side to Nhava on the Navi Mumbai side, at an estimated cost of Rs 177.5 billion.