JICA, GoI sign loan agreement for Mumbai metro Line 3, Ahmedabad-Gandhinagar metro Phase-I

JICA and the central government signed an ODA loan agreement, on March 27, 2020 for funds worth Rs 33.41 billion (Yen 53,895 million) for the Mumbai metro, Phase I, Line 3, project and the Ahmedabad-Gandhinagar metro rail project, Phase I. Of the total loan amount, funds worth Rs 24.8 billion will be provided for the Mumbai metro, Line 3, as Tranche III, while funds worth Rs 8.66 billion will be provided for the Ahmedabad-Gandhinagar metro. The Mumbai metro project involves the development of an underground metro rail system connecting Colaba to the Santacruz Electronics Export Processing Zone via Bandra covering a distance of 33.5 km with an investment of Rs 300 billion. It is expected to be operational by December 2021. The Ahmedabad-Gandhinagar metro project involves the development of a 40.03 km long metro rail corridor connecting the two cities with an investment of Rs 125 billion. It involves two corridors: the North-South corridor, covering a distance of 18.87 km from APMC to Motera Stadium, and the East-West corridor, spanning a distance of 21.16 km from Thaltej Gam to Vastral Gam. It is expected to be operational by June 2022.