JICA extends Rs 4,870 cr assistance for Ahmedabad Metro proj

Japan International Cooperation Agency (JICA) today inked a pact with the Centre to provide 82.434 billion yen (about Rs 4,870 crore) assistance for Ahemadabad Metro Rail Project.
With this pact, the cumulative loan amount provided by JICA for metro projects in India (including Delhi, Chennai, Bengaluru, Kolkata and Mumbai Metro's) has exceeded 1 trillion yen (approximately Rs 59,071 crore).
"JICA today signed an agreement with the Government of India to provide 82.434 billion Japanese Yen (approx Rs 4,870 crore) 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 very concessional, 1.4 per cent of interest rate and 30 years of repayment period (including 10 years of grace period).

The 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 Takema Sakamoto, Chief Representative, JICA India Office and S Selvakumar, 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 Sakamoto said: "Ahmedabad is the fifth-most populated city in India. This concessional loan will help develop mass rapid transit system in the Ahmedabad metropolitan area.
"This project will meet the growing traffic demands, leading to modal shift from road traffic to public transportation system and will eventually lead to balanced regional development and improvement of environmental conditions."

Automatic Fare Collection System with combination of IC
Smart Card for multiple journeys and computerised Contactless Smart Token for single journey will be adopted into the Project as well, the statement said.
Advanced technology and systems will reduce the total life cycle cost (LCC) including operation and maintenance stage, it said.
The statement said that in recent years, for Gujarat state development efforts, JICA has also extended 17,521 million yen (approx Rs 1,035 crores) for the Gujarat Forestry Development Project.
The objective of the project is to regenerate the forest and raise the living standards of the local inhabitants by conducting community-based afforestation and exercises to enhance livelihood.