JICA signs pact to fund 400 mld desalination plant

The Japan International Cooperation Agency (JICA) has signed a loan agreement worth Rs 18.13 billion with the Indian government for the Perur water desalination plant project. The official development assistance (ODA) is being provided at concessional rates with an annual interest rate of 1.5 per cent for project implementation and 0.01 per cent for consulting services. It is being given as a general untied loan and is to be repaid within a period of 30 years with a 10-year grace period. The project involves the development of a 400 million litres per day seawater desalination plant in Perur in Tamil Nadu. It is expected to be completed by March 2025.