Japan commits Rs 10,535 cr for infra projects in India

Japan today committed 215 billion yen (Rs 10,535 crore) for six infrastructure projects in India, including Phase II of the Mass Rapid Transport System (MRTS) for Delhi.

An Agreement to this effect was signed between Finance Ministry officials and the Japanese Ambassador to India Hideaki Domichi.

The committed 215 billion yen would flow into the country in the next fiscal (2010-11) and the year beyond.

With this agreement, official development assistance from Japan will touch 3,116.81 billion yen (Rs 1,55,840 crore), making India the highest recipient of such assistance from the Far East country.

The agreement allocates 30.54 billion yen (Rs 1,648 crore) for the second phase of DMRTS.

In addition, 23.4 billion yen (Rs 1,146 crore) will go towards Calcutta East-West Metro Project Phase II, 59.85 billion yen (Rs 2,932.6 crore) for Chennai Metro Project Phase II and 90.3 billion yen (Rs 4,422 crore) for the first phase of a dedicated Freight Corridor Project of Railways.

Besides, three billion yen (Rs 150 crore) would be given for Rengali irrigation project in Orissa and 5.3 billion yen (Rs 263.8 crore) for a forestry project in Sikkim.