JICA Wraps Up Mumbai Metro Line 3 Loan, Phase 1 Inauguration Expected in July-September.

The Japan International Cooperation Agency (JICA) has disbursed the fifth and final official development assistance loan tranche of Rs. 4,474 crore for the Mumbai Metro Line 3 Project, which is being developed by the Mumbai Metro Rail Corporation Ltd. This brings the total loan provided by JICA for the project to approximately Rs. 21,000 crore, spread across five tranches.

The Mumbai Metro Line 3, also known as Aqua Line, spans 33.5 kilometers and will connect North and South Mumbai through an underground route along the Colaba-Bandra-SEEPZ corridor. This metro line aims to link key financial hubs of the city, including Nariman Point, Bandra-Kurla Complex (BKC), Fort, Worli, Lower Parel, and Goregaon.

"Since September 2013, when the first loan agreement for the Mumbai Metro Line 3 Project was signed, the Mumbai Metro Rail Corporation Limited (MMRCL) has been making commendable efforts, and despite various challenges, steady and satisfactory progress has been achieved," stated SAITO Mitsunori, Chief Representative of JICA India office.

According to MMRCL, a joint venture between the Government of India and the State Government of Maharashtra, Mumbai Metro Line 3 is expected to serve more than 16 lakh commuters daily. It will feature 27 stations with interchange points connecting to the city's suburban railway, Monorail, and existing Metro-1 (Versova-Andheri-Ghatkopar), as well as future Metro lines 2B and 6.

The project is divided into two phases: Phase 1 from Aarey to BKC, and Phase 2 from BKC to Cuffe Parade.

"I understand that the inauguration ceremony for Phase 1 (Aarey to BKC) is likely to be held in the second quarter (Jul-Sep) of FY2024, with the entire project expected to be completed in the near future. The Line 3 Project has been eagerly awaited by the citizens of Mumbai, the Government of Japan, and JICA, and I look forward to its inauguration," added Mitsunori.

The Mumbai Metro Line 3 Project is considered a priority initiative for the Government of Japan and JICA, aligning with India's objective to improve urban mobility and promote sustainable development in major metropolitan areas. It also contributes to achieving multiple Sustainable Development Goals, as highlighted in JICA's statement.

ET