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    JICA injects Rs.6,000 cr in MMRC’s Metro 3

    Japan International Cooperation Agency (JICA)
    In a bid to speed up the pace of construction of Colaba-Seepz Metro 3 by Mumbai Metro Rail Corporation (MMRC), Japan International Cooperation Agency (JICA) has signed an agreement with the central government to provide official development assistance (ODA) worth Rs 6,000 crore for the second tranche of the project. Mumbai Metro Rail Corporation is the executing agency for the 33.51-km fully underground metro corridor commanding an investment of over Rs 23,000-crore. The ODA loans conditions are at 1.5 per cent interest rate for project activities and 0.01 per cent interest rate for consulting services, and 30 years of repayment (including 10 years of the grace period), JICA said in a statement. MMRC completes 1,267 mt of tunneling for Metro 3 corridor Mumbai Metro Rail Corporation (MMRC), which is implementing the project. Its tunnel boring machines (TBMs) have so far completed 1,267 meters of tunneling at various station sites. So far, 11 TBMs have been received of which eight have been lowered and have started operations in four locations including Azad Maidan, Naya Nagar (Mahim), Vidyanagari (Santacruz) and Marol Naka. With 14 TBMs already having completed factory acceptance test (FAT), it is all set to have all the 17 TBMs running swiftly in ground in the next few months, managing director, MMRC, claimed.
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