On March 27, the Japan International Cooperation Agency (JICA) signed loan agreements with the Government of India in Delhi to provide Japanese ODA loans for the following projects :
(1) Dedicated Freight Corridor Project (Phase1) : Rs 8,553 crore
This loan for the DFC project (Phase 1) comes with the objective to cope up with the increase in freight transport demand in India by constructing a new dedicated freight rail system between Delhi and Mumbai, JICA said.
- JICA said it will promote comprehensive regional economic development along the freight corridor as the backbone of the Delhi-Mumbai Industrial Corridor (DMIC) development plan.
- JICA is committed towards the development of infrastructure in the transportation sector,” JICA India chief representative Mr. Katsuo Matsumoto said.
- The Western DFC runs between Delhi and Mumbai and covers the areas where significant commercial and industrial development is seen.
- Mr. Matsumoto said the Western DFC project is an important part of the DMIC initiative, which is part of the Japanese-Indian collaborative project aimed at comprehensive regional development.It will help promote comprehensive regional economic development along the freight corridor in the DMIC area .
- In this phase-1 project, a new 950-km freight line (Rewari to Vadodara) connecting the major cities in Gujarat, Rajasthan, and Haryana states has being constructed.
(2) Mumbai Metro Line 3 Project (III) : Rs 2,480 crore
The agreement with the central government is to provide an ODA (Official Development Assistance) loan of around Rs 2,480 crore for Mumbai Metro Line 3 project. The ODA loan agreement was signed between the finance ministry and JICA India chief representative Mr. Katsuo Matsumoto.
- He said,”Given the population of Mumbai, there is an essential need for the metro project in the Mumbai Metropolitan Region. Mass rapid transport systems also help in reducing pollution caused by private vehicles and improving living conditions.”
- With a total length of 33.7 km and 26 stations, the Colaba-Bandra-Seepz Line 3 is planned to connect the southern part of the city with the major activity areas like BKC (Bandra Kurla Complex), the airport, Maharashtra Industrial Development Corporation (MIDC) area and Seepz area.This fully underground metro line-3 project will be completed by 2021.
- JICA said,”The current situation highlights the need for MRTS in Mumbai, and aims at easing mobility and connectivity.”The Metro will help in tackling congestion, as the daily ridership volume for 2021 is estimated as 1.21 million and will reach 1.70 million in 2031.
- JICA said that the expected travel time from domestic airport station to BKC station will be less than 7 minutes by Line-3 and from BKC to Cuffe Parade, it will be less than 40 minutes.
Source: JICA & Public Sources