Top News

|  DP World reports 10.7% gross volume growth in Q2 2017  |    |  Major Ports post combined net surplus of INR 2820 cr in FY 2017  |    |  Odisha sets a target to reach INR 1 lakh cr exports by 2025  |    |  Shapoorji Pallonji Group to spend INR 2,000 cr in Odisha Gopalpur Port  |    |  Air India SATS Airport Services launches mobile app for tracking cargo  |    |  IndiGo & Jet introduce additional flights to Doha, Mumbai from Kozhikode  |    |  Port of Rotterdam registers impressive container throughput rise in H1  |    |  New waterways to connect India with Bangladesh  |    |  Yang Ming to start New Korea-Taiwan-Hong Kong service  |    |  DFC to be commissioned in 2 years  |    |  Domestic air traffic up 20% in June  |    |  No new port in 100 km vicinity of major ports  |    |  IRCTC to install 1,100 water vending machines at railway stations  |    |  Port of Antwerp first half volume increases by 1.9% to 5,143,305 TEU  |    |  Asia-Europe rate falls 2.1% to USD 919 TEU, declines 3.1% to USWC  |    |  Operations at international cargo terminal likely to begin soon  |    |  Haicang Port sees 1H cargo rise 20.7% to 3.12 million TEU  |    |  Bahri gets delivery of 39th VLCC, strengthens its leading position  |    |  Shreyas Shipping & Logistics signs MoA to acquire one Multipurpose vessel  |    |  Businessman to sell 12% stake in CIAL  |   
You are here: Home » National News » Infrastructure» Japan sanctions INR 8,600 cr for Mumbai trans-harbour link project

Japan sanctions INR 8,600 cr for Mumbai trans-harbour link project

01 April 2017 | Mumbai
 

transreproter

The Japan International Cooperation Agency (Jica) today said signed an agreement with the MMRDA to provide 144,795 million yen, or around INR 8,600 crore, official development assistance (ODA) loan for the ambitious trans-harbour link project in the city (MTHL).

Jica said in a statement, "The financial assistance would be utilised to develop an expressway link comprising a dual three-lane main- carriageway bridge connecting Sewri on the northeastern periphery of Mumbai to Chirle in Navi Mumbai.”

The loan is offered at concessional rate of yen-London inter-bank offered rate plus 0.1% for the project activities and 0.01% for consulting services with a 30-year repayment period, including 10 years of grace period.

The agreement was signed in New Delhi between Takema Sakamoto, chief representative of Jica's India office, and the Mumbai Metropolitan Region Development Authority (MMRDA) commissioner U P S Madan.

Sakamoto said that "The MTHL would bring a major change in the development of Mumbai and its suburban areas. The link would provide a crucial connectivity for the proposed Navi Mumbai airport and promote socioeconomic development of the entire Mumbai metropolitan region.”

In a separate statement, MMRDA said the agreement has been signed for the disbursement of the first tranche of INR 7,910 crore which is about 45% of the total cost of the project.

Madan said, "This is a big boost to the close to INR 18,000-crore MTHL as we have already shortlisted contractors, who have been issued requests for proposal for the execution of the project.”

The consortium of Aecom-Dar-Padeco-Ty Lin have been appointed as general consultants for the 22 kilometer (km) long link which is envisaged to be completed by 2021-22.

   
Transreproter Logo