Wednesday , 19 June 2019

JICA to fund Delhi Metro phase III

Japan International Corporation Agency (JICA) will fund Delhi Metro’s Phase 3 project beginning December this year. The 105km long Phase 3 will cost `32,000 crore and will have a debt-equity ratio of 60:40. This means that the Delhi government and the Central government will contribute 30% each while the rest will be raised by soft loans provided by the JICA. The loans will carry an interest rate of 1.4% and have to be repaid in 30 years with a grace period of 10 years. JICA had funded Phase 1 and 2 of the Delhi Metro as well with its share of the finances being 60% and 55% respectively. Phase 3 has seen this share dip further to 40 percent as Delhi Metro’s need for monetary assistance reduces.

Content

SUBSCRIBE TO OUR

MONTHLY NEWSLETTER

Get all latest news articles straight to your inbox.

Enter your email address: