JICA keen on funding Delhi Metro phase IV

Press Trust of India New Delhi | Updated on January 15, 2018 Published on November 01, 2016

The Japanese government funding agency JICA is keen to extend its association with the Delhi Metro Rail Corporation (DMRC) beyond the phase III, a senior official of the agency said.

The Chief Representative of Japan International Cooperation Agency (JICA) India office Takema Sakamoto said there is a need for huge capacity expansion in public transportation and the agency is likely to discuss further association with the Delhi Metro.

“For public transportation, we need huge capacity and that is why we are now discussing for the further extension for the Delhi Metro even after the phase III. The DMRC is likely to request for support for the phase IV very soon,” Sakamoto told PTI.

JICA has been supporting DMRC’s metro project since phase I construction in 1997.

“We are now supporting the construction of the phase III of the DMRC and it is targeting completion in 2016 or next year,” he added.

Project cost

The third phase of the DMRC is being supported by JICA with a 48.57 per cent loan by the Japanese funding agency. The estimated cost of the third phase project is ₹41,079 crore.

The loan comes at a concessional rate of 1.4 per cent and carries a repayment period of 30 years with grace period of 10 years.

Sakamoto said DMRC is also likely to make a further request for procurement of many more coaches for enhancement of the transportation capacity in the capital.

JICA is ready to discuss the proposal with the Indian government, including the Union Road and Transport Minister Nitin Gadkari and Delhi Chief Minister Arvind Kejriwal, he said.

Sakamoto said the agency is also likely to support the high speed bullet train project proposed between Mumbai and Ahmedabad.

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Published on November 01, 2016
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