JICA Finalizes Fifth Tranche Loan for Mumbai Metro Line 3

The Japanese International Cooperation Agency (JICA) has signed an agreement to provide the fifth and final tranche of a Rs 4,657-crore loan for the Mumbai Metro Line 3 project. The funding completes JICA's financial support for the 33.5-kilometre underground metro line, aimed at revolutionizing Mumbai's rapid transit system.

The Japanese International Cooperation Agency (JICA) on Friday inked an agreement for the fifth and final tranche of a Rs 4,657-crore loan, earmarked for the Mumbai Metro Line 3 project. This vital funding completes JICA's commitment to the 33.5-kilometre fully underground metro line, which connects South Mumbai's Colaba to Andheri's SEEPZ via Bandra.

The loan agreement was signed by Department of Economic Affairs (DEA) additional secretary Manisha Sinha and Japan's Ambassador to India, Hiroshi Suzuki. This marks the final segment of support from JICA, whose involvement began with the first tranche agreement on September 7, 2013.

According to Mumbai Metro Rail Corporation (MMRC), with this loan, JICA reaffirms its unwavering support for Metro Line 3, which, upon completion, will boast 27 stations and serve over 16 lakh commuters daily. The project's revised cost stands at Rs 37,276 crore, with JICA funding 57.09 percent or Rs 21,280 crore.

(Disclaimer: With inputs from agencies.)