India-Japan exchange notes worth Rs 5,536 cr for Chennai and Ahmedabad Metro projects

India and Japan have had mutually beneficial economic development cooperation since 1958

India and Japan have exchanged notes for Japan's Official Development Loan Assistance worth Rs 5,536 crore to India for Chennai Metro Rail Project (IV) and Ahmedabad Metro Project.

According to PIB release, the notes were exchanged today between S Selvakumar, Joint Secretary, Department of Economic Affairs, Government of India and Yutaka Kikuta, Charge d' Affaires a.i., Embassy of Japan to India.

The Government of Japan has committed Official Development Assistance (ODA) loan of an amount of JPY 19.981 billion (= around Rs 1,080 crore) for the Chennai Metro Rail Project (IV) and JPY 82.434 billion (around. Rs 4,456 crore) for the Ahmedabad Metro Project.