(Image tweeted by Christin Mathew Philip, TOI)
New Delhi, India (Urban Transport News): The Japanese financial institution Japan International Cooperation Agency (JICA) signed on March 26, 2021 an official development assistance loan agreement with the Indian government to provide financial support of about 12,107 crore for the development of the next phases. metro projects in Delhi and Bangalore.
For the construction of the corridors of Phase 4 of the Delhi Metro Project, JICA will provide 8,390 yen crore to the Delhi Metro Rail Corporation Ltd. (DMRC). This loan is used for three priority corridors including the extension of line 7 of 12.5 km (Mukundpur – Maujpur), line 8 of 28.9 km (Janakpuri West – RK Ashram) and a new corridor of 23.6 km km between Aerocity and Tughalakabad.
For the construction of the corridors of phase 2 of the Bangalore Metro Rail project, JICA will provide 3,717 crores of to Bangalore Metro Rail Corporation Ltd. (BMRC). This loan is used for the construction of Reach 6 (Kalena Agaraha – Nagawara, 21.39 km), Phase 2A (Silk Board – KR Puram, 20 km) and Phase 2B (KR Puram – Kempegowda International Airport, 38 km).
“JICA has encouraged the development of quality infrastructure in Bangalore, which facilitates sustained growth, and has worked for the strong bond of India and Japan. Bangalore was in second place in terms of CO2 emissions, followed by Delhi in 2015 and the project is expected to contribute to an estimated annual reduction of 89,952 tonnes of CO2 greenhouse gas emissions by around 2031 ”, said Matsumoto Katuso, chief representative of JICA in India.
The projects are committed this time to contributing to a vital area of development in India and to quality infrastructure to achieve the Sustainable Development Goals (SDGs), which are directly linked to improving people’s lives, ”he said. he added.
The loans will also be used for the purchase of rolling stock (train cars) for the two projects.
JICA has so far financed several metro projects in major Indian cities like Delhi, Bengaluru, Chennai, Kolkata, Mumbai and Ahmedabad with ODA loans of around ??87,000 crore (1,300 billion JPY).