For Metro Rail Projects Japan has Extended Rs. 5,479 Crore Loan to India [ Current Affairs ]

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According to the finance ministry report Japan has extended development assistance loan worth Rs. 5, 479 crore to India for Chennai and Ahmedabad Metro projects. India and Japan have engaged with agreements for an official development assistance loan of an amount of 1, 069 crore for the Chennai Metro Rail Project (IV) and. 4, 410 crore for Ahmedabad Metro Project.

  • According to last few years, relationship between India and Japan has held together and grown into strategic partnership in terms of economic cooperation.
  • As per overall agreement and popular support for the greater cooperation between India and Japan, this partnership is come up with a great future.
  • The Joint Secretary in the Department of Economic Affairs S Selvakumar and Yutaka Kikuta, Deputy Chief of Mission of Japan to India, has signed agreement on last Friday.

About Metro Rail Projects:

  • In 1984, the first rapid transit system in India was Kolkata Metro started.
  • India’s first modern metro and the third rapid transit system was Delhi Metro.
  • The Ahmedabad Metro Project Phase–1 of project was approved in October 2014 and is expected to complete by December 2018.
  • The Chennai Metro Project Phase I consists of two corridors covering a length of 45.1 kilometers. The first line of Phase 1 has been moderately completed and is open for public service. About 55 % of the Metro path in Phase I are underground, with the remaining path higher.

- Published on: November 30, 2015