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JICA to provide Rs 6,000 cr for 2nd tranche of Mumbai Metro 3

Business Finance

Press Trust of India  |  Mumbai 

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 *

Mumbai Metro Rail Corporation (MMRC), which is implementing the Colaba-Seepz Metro 3 project, today said its tunnel boring machines (TBMs) have so far completed 1,267 meters of tunnelling at various station sites.

So far, 11 TBMs have been received, out of which eight have been lowered and have started operations, MMRC said in a statement issued here.

The TBMs have started operations in four locations including Azad Maidan, Naya Nagar (Mahim), Vidyanagari (Santacruz) and Marol Naka.

"With 14 TBMs already having completed factory acceptance test (FAT), we are hoping to have all the 17 TBMs running swiftly in ground by July 2018," said Ashwini Bhide, managing director, MMRC.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, April 02 2018. 20:50 IST