Japan International Cooperation Agency (JICA) has signed an agreement with the central government to provide official development assistance (ODA) of around Rs 6,000 crore for the second tranche of the Colaba-Seepz Metro 3 project here.
Mumbai Metro Rail Corporation is the executing agency for the 33.51-km fully underground and over Rs 23,000-crore metro corridor.
"The ODA loan's conditions are very concessional at 1.5 per cent interest rate for project activities and 0.01 per cent interest rate for consulting services, and 30 years of repayment (including 10 years of the grace period)," JICA said in a statement issued here. ****************************** MMRC completes 1,267 mt of tunnelling for Metro 3 corridor *
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