Today JICA Japan International Cooperation Agency signed a pact with the Centre to provide 82.434 billion yen (about Rs 4,870 crores) assistance for Ahemadabad Metro Rail Project. With this pact, the total loan amount provided by JICA for metro projects in India (including Delhi, Chennai, Bengaluru, Kolkata and Mumbai Metros) has exceeded 1 trillion yen (approximately Rs 59,071 crores). “JICA signed an MOU with the Government of India to provide 82.434 billion Japanese Yen (approx Rs 4,870 crores) Official Development Assistance (ODA) loan for the development of the metro rail system in Ahmedabad, Gujarat,” a JICA statement said. It said the ODA loan’s conditions are pretty concessional, 1.4 % of interest rate and 30 years of repayment period including 10 years of grace period. The financial assistance from JICA will facilitate construction of underground and elevated rail-tracks, electrical, telecom and signalling systems and procurement of the trains, it said. India is JICA?s largest partner in the world. The latest agreement was signed between, Chief Representative, JICA India Office and Joint Secretary, Department of Economic Affairs, Ministry of Finance. “The project will provide the 1st Metro Rail System network of approx 38 km in Ahmedabad from Motera Stadium to APMC (North-South Corridor) and Thaltej to Vastral Gaam (East-West Corridor),” the statement said. It will cover the central business district area, academic area, residential area and institutional complex area of Ahmedabad Metropolitan Area. Development of metro in Ahmedabad will be a typical example of high quality infrastructure, it added. The Executing agency for the project is Metro Link Express for Gandhinagar and Ahmedabad Company Ltd (MEGA). The complete commercial operation is expected to start from 2020. JICA India Chief representative said: “Ahmedabad is the fifth-most populated city in India. This concessional loan will help develop mass rapid transit system in the Ahmedabad.
