JICA extends ODA loan of Rs 18,750 crore for Mumbai-Ahmedabad High Speed Rail Project
- Country:
- India
Japan International Cooperation Agency (JICA) on Wednesday said it has signed an agreement with India to provide an Official Development Assistance (ODA) loan of Rs 18,750 crore as tranche 4 for the construction of Mumbai-Ahmedabad High-Speed Rail (MAHSR).
According to JICA statement, it is the largest amount committed through a single project loan agreement in the history of JICA across the globe.
The statement said JICA has been supporting the MAHSR project by providing ODA loans with the cumulative commitment amount of Rs 40,625 crore since 2017 and by providing technical assistance, including feasibility study, basic and detailed design, trainings in Japan, and dispatch of Japanese Shinkansen experts to the executing agency of MAHSR project, National High Speed Rail Corporation Limited (NHSRCL).
The objective of the project is to develop a high-frequency mass transportation system by constructing the high-speed rail between Mumbai and Ahmedabad, using Japan's Shinkansen technology (also known as the bullet train), thereby enhancing mobility in India and contributing to regional economic development.
Speaking on this occasion, JICA India chief representative Saito Mitsunori said the MAHSR project is a symbol of the Japan-India collaboration.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
Mumbai police apprehend trusted associate of Cox & Kings owner in Rs 400-crore bank fraud investigation
Ex DMK functionary, associates pumped Rs 40 cr drug money into films, real estate: ED
Brigade Enterprises announces Rs 400 crore investment in developing office space in Chennai
Mizoram: Drugs worth over Rs 40 lakh recovered in Champhai, one held
16.63 cr voters to decide fate of 1625 candidates of 102 constituencies in Phase 1 tomorrow