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  Metros   Mumbai  07 Jul 2018  MMRDA to approach JICA for funding four metro projects

MMRDA to approach JICA for funding four metro projects

THE ASIAN AGE. | AISHWARYA NAIR
Published : Jul 7, 2018, 12:42 am IST
Updated : Jul 7, 2018, 12:42 am IST

Currently, JICA is funding the underground metro 3 corridor.

The authority faced a setback when the Asian Development Bank, which is funding three metro lines, including metro 2A, metro 2B and metro 7, refused to accept the policy.
 The authority faced a setback when the Asian Development Bank, which is funding three metro lines, including metro 2A, metro 2B and metro 7, refused to accept the policy.

Mumbai: The Mumbai Metropolitan Region Development Authority (MMRDA) will approach Japan-based JICA (Japan International Cooperation Agency) for funding four of its crucial metro projects in the city. After a struggle with Asian Development Bank over the “Make in India” policy, the authority feels that JICA will be an apt “funding” alternative as it is “friendly” and does not have issues with the policy.

The four crucial corridors include Wadala to Thane (metro 4); Dahisar to Mira-Bhayandar (metro 9); Swami Samarth Nagar to Jogeshwari to Vikhroli (metro 6); and Bhiwandi to Kalyan (metro 5).

 

Meanwhile, for four other lines, including CSI airport to the proposed Navi Mumbai airport and Wadala to Thane (metro 4), funding will be sought from the BRICS’ New Development Bank (NDB).

Currently, JICA is funding the underground metro 3 corridor (Colaba to Bandra to Seepz); it is taking care of 57 per cent of the funding required for the project.

A senior MMRDA official said, “We have sent the proposal to JICA for metro lines 4, 5, 6 and 9 and they have given an in-principle nod. The JICA is cheaper and has majorly agreed to the ‘Make in India’ policy.”

The authority faced a setback when the Asian Development Bank, which is funding three metro lines, including metro 2A, metro 2B and metro 7, refused to accept the policy.

 

Due to this, procurement of coaches was delayed by four months.

Tags: mmrda, metro projects