JICA extends Rs. 3,717 cr loan for developing Metro Phase 2 in Bengaluru

PTI, Mar 26, 2021, 5:01 PM IST

Bengaluru:  Japan International Cooperation Agency (JICA) has signed an agreement with the Government of India, to provide Japanese (ODA) loan amounting to Japanese Yen 52,036 million(approximately Rs 3,717 Crore) for the development of Phase 2 of ”R6, 2A and 2B” of Bangalore Metro Rail Corporation Limited (BMRCL)in Bengaluru.

In March 2006, the first Japanese ODA loan agreement was signed by JICA for BMRCL Phase 1.

Phase1 has an operational rail network of 42.3 Km(East-West line 18.1 Km and North-South line -24.2 Km) with 41 stations.

The ridership under Phase 1 is expected to increase from the present 0.45 million in 2020 to 4.0 million when Phase 2 begins to operate, a JICA statement said on Friday.

The 80 km rail network (funded by JICA) for Phase 2, covers Line R6 (Nagawara Gottigere, approx. 22.0 km), Phase 2A (Silk Board K R.Puram, approx.20.0 km), and Phase 2B (K R. Puram Kempegowda International Airport Terminal, approx.38. 0 km).

JICA has been supporting the development of major metro projects in the country by providing funds and expertise, it said.

The cumulative loan amount provided by JICA for metro projects in India (including Delhi, Bengaluru, Chennai, Kolkata, Mumbai, and Ahmedabad) exceeds 1.3 trillion Japanese Yen (Rs 87,000 crore approximately), it was stated.