Mumbai: The Japan International Cooperation Agency (JICA) has extended an official development assistance (ODA) loan of 30,755 million Japanese Yen or approximately ₹1,927 crore for the Mumbai Trans Harbour Link (MTHL).
This loan agreement is the third tranche of JICA financing for MTHL, and the loan agreement for the previous two tranches were signed on March 31, 2017, and March 27, 2020.
JICA has committed to funding 85% of the total project cost of ₹17,843 crore. The first tranche accounted for 45% of the project cost.
The ODA loan agreement was signed between Resident Commissioner Maharashtra Sadan Dr Nidhi Pandey and Chief Representative JICA India Saito Mitsunori earlier this week. The Government of India is the guarantor for the project.
Development of Navi Mumbai is paramount for the development of the MMR
Mitsunori said, “Mumbai, which has long been the epicentre of India’s commerce, has seen a steady increase in population in the past three decades despite obvious spatial constraints. The development of Navi Mumbai has been identified as an urgent requirement for the development of the Mumbai Metropolitan Region. Towards this end, the MTHL project is proposed to be developed as an expressway link comprising of a dual three-lane main-carriageway bridge connecting Sewri in Mumbai to Chirle in Navi Mumbai.”
Connectivity between Mumbai and Navi Mumbai to get a boost
He added that when completed, this link will reduce the road distance between Mumbai and Navi Mumbai and travel time to one-fourth. “The project is envisaged to improve connectivity between Mumbai and Navi Mumbai; accelerate the growth of Navi Mumbai; smoothen the traffic flow from Navi Mumbai airport to Mumbai; and enable greater economic integration of Mumbai with Navi Mumbai and with the extended regions of Pune, Goa, Panvel, and Alibaug. As the works are going ahead smoothly, I am looking forward to the successful and safe completion of this dream project,” he said.
The project involves the construction of an 18km sea link and 4km approach roads that will connect central Mumbai with Navi Mumbai across Mumbai Bay.
It will improve connectivity to the Navi Mumbai area, where further urban development is being planned, and will also contribute to the economic development of the Mumbai Metropolitan Region.
The MTHL project is divided into three packages for construction purpose. At the moment, package 1, 2 and 3 are 91%, 89% and 93% ready, respectively. It is scheduled to be opened to the public in November this year.
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