JICA Signs ODA Loan of INR 3300 Crore for Delhi Metro Phase 3
Japan International Cooperation Agency (JICA) signed an agreement with the Government of India to provide Official Development Assistance (ODA) Loan of 53,675 million Japanese Yen (approximately INR 3,300 crore) for the ‘Delhi Mass Rapid Transport System Project Phase 3 (Tranche III)’. The objective of the Project is to cope with the increasing traffic demand in Delhi by expanding mass transit systems, thereby mitigating traffic congestion, reducing air pollution, minimizing road accidents and making travel smoother for the people in New Delhi. The scope of the Phase 3 includes the construction of Pink Line and Magenta Line and the extension of Yellow Line, Blue Line, Green Line and Violet Line. The Phase 3 will add 159.7 kilometers to the existing Delhi Metro Line and will connect 109 metro stations. The ODA loan agreement was signed between Shohei Hara, Director General, South Asia Department, JICA and Mr. Sujan R. Chinoy, Ambassador of India to Japan on October 29, 2018 at Tokyo.
Speaking on the occasion, Mr. Katsuo Matsumoto, Chief Representative, JICA India said, “With the signing of Tranche-III of Delhi Metro ODA Loan, JICA has continued to fulfill its commitment of improving the mobility in the capital city. We are pleased to support the network of Delhi Metro which has now reached a cumulative length of 349.7 kilometers. Delhi Metro Rail Corporation (DMRC) shares an over two-decade-long association with JICA, and with the signing of this ODA loan agreement, our bond is only going to grow stronger.”
The Executing Agency for the Project is Delhi Metro Rail Corporation Limited.
The Project envisages building of an efficient transportation system for the city, catering to the growing population. With high growth in transport demand, congestion on roads has been increasing and the mode of travel in favor of public transportation has remained around 50%. It is expected that the mode of travel in favor of public transport will increase to 60% upon commissioning of the Project, while the mode of travel in favor of Delhi Metro will increase to 19% from the current 15%. JICA has extended a cumulative total of 705,206 million Japanese Yen (approximately 45,000 crore) in ODA loans for the Delhi Mass Rapid Transport System Project since 1997. With the signing of the loan agreement for Delhi Metro Project Phase 3, the cumulative loan amount provided by JICA for Metro projects in India (including Delhi, Bengaluru, Kolkata, Mumbai, Chennai and Ahmedabad Metro) exceeds 1.2 trillion Japanese Yen (approximately 77,000 crore).
Information Source: JICA
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