MTHL project gets Rs.8,600-cr financing

    Mumbai trans-harbor link project
    The much awaited Mumbai trans-harbor link project has finally seen light at the end of the tunnel with the mega project securing a whopping financing worth Rs.8,600 crore for its construction activities. In this connection, an agreement between the Mumbai Metropolitan Region Development Authority (MMRDA) and the Japan International Cooperation Agency (JICA) was signed recently. The financial assistance would be utilized to develop an expressway link comprising a dual three-lane main carriageway bridge connecting Sewri on the north-eastern periphery of Mumbai to Chirle in Navi Mumbai. The loan is offered at concessional rate of yen-London inter-bank at rate plus 0.1 percent for the project activities and 0.01 per cent for consulting services with a 30-year repayment period, including 10 years of grace period. The pact was inked between chief representative of Jica's India office, Takema Sakamoto, and MMRDA commissioner, UPS Madan, claimed sources.
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