Japanese government funding agency JICA has signed agreements totalling Rs 15,295 crore with the Indian government for three mega rail infrastructure projects.
Under these agreements, JICA has granted Rs8,553 crore for phase-1 of the Dedicated Freight Corridor; Rs 4,262 crore for Mumbai Trans Harbour Link Project (II) andRs2,480 crore for the Mumbai Metro Line 3 Project (III).
JICA said the Rs8,553-crore loan for the Dedicated Freight Corridor (DFC) project (Phase 1) comes with the objective to cope up with the increase in freight transport demand in India by constructing new dedicated freight railway system between Delhi and Mumbai.
It will promote comprehensive regional economic development along the freight corridor as the backbone of the Delhi-Mumbai Industrial Corridor (DMIC) development plan, said the funding agency that provides long-term low-cost loans for development projects to various countries.
Katsuo Matsumoto, chief representative, JICA India, said, "JICA is committed towards the development of infrastructure in the transportation sector."
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