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    Japan shows interest in funding Delhi Metro’s phase IV project

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    Delhi Metro

    The Japanese government funding agency, Japan International Cooperation Agency (JICA) shows interest in extending its association with the Delhi Metro Rail Corporation (DMRC) beyond the phase III. The Chief Representative of 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. The DMRC is likely to request for support for the phase IV very soon.  JICA has been supporting DMRC’s metro project since phase I construction in 1997.  The third phase of the DMRC is being supported by JICA with a 48.57 per cent loan by the Japanese funding agency. It is targeting completion in 2016 or next year. The estimated cost of the third phase project is Rs 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. DMRC is also likely to make a further request for procurement of many more coaches for enhancement of the transportation capacity in the capital. The agency is also likely to support the high speed bullet train project proposed between Mumbai and Ahmedabad. The train project has been discussed between the two Prime Ministers’ offices.

    Source: economictimes.indiatimes.com
    Image source: Delhi metro

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