MMRC Secures Rs.8,000 Crore Funding from JICA for Metro Line 3
RAILWAYS & METRO RAIL

MMRC Secures Rs.8,000 Crore Funding from JICA for Metro Line 3

The Mumbai Metro Rail Corporation (MMRC) has secured an additional ?8,000 crore in funding from the Japan International Cooperation Agency (JICA) to advance the development of the city's ambitious Metro Line 3 project. This crucial financial boost aims to accelerate the completion of the underground metro line, which is expected to significantly enhance Mumbai?s public transport infrastructure.

Metro Line 3, also known as the Colaba-Bandra-SEEPZ line, spans 33.5 kilometres and includes 27 stations. It is designed to alleviate traffic congestion, reduce travel time, and provide a reliable and efficient mode of transportation for Mumbai?s residents. The project is a key component of Mumbai?s efforts to modernise its urban transport network and address the growing demand for public transit solutions.

The funding from JICA underscores the international community?s confidence in the project's potential to transform Mumbai's transportation landscape. This financial support will be utilised to expedite construction activities, procure advanced rolling stock, and implement cutting-edge technology for the metro line.

MMRC officials have expressed optimism about the project's progress, highlighting that the additional funds will ensure timely completion and operational readiness. The metro line is expected to serve over 1.7 million passengers daily, significantly reducing the load on Mumbai?s existing suburban rail network and roadways.

The development of Metro Line 3 is also anticipated to have positive environmental impacts by reducing vehicular emissions and promoting sustainable urban mobility. By providing an efficient alternative to private vehicles, the metro line will contribute to improved air quality and reduced carbon footprint in the city.

The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com

The Mumbai Metro Rail Corporation (MMRC) has secured an additional ?8,000 crore in funding from the Japan International Cooperation Agency (JICA) to advance the development of the city's ambitious Metro Line 3 project. This crucial financial boost aims to accelerate the completion of the underground metro line, which is expected to significantly enhance Mumbai?s public transport infrastructure. Metro Line 3, also known as the Colaba-Bandra-SEEPZ line, spans 33.5 kilometres and includes 27 stations. It is designed to alleviate traffic congestion, reduce travel time, and provide a reliable and efficient mode of transportation for Mumbai?s residents. The project is a key component of Mumbai?s efforts to modernise its urban transport network and address the growing demand for public transit solutions. The funding from JICA underscores the international community?s confidence in the project's potential to transform Mumbai's transportation landscape. This financial support will be utilised to expedite construction activities, procure advanced rolling stock, and implement cutting-edge technology for the metro line. MMRC officials have expressed optimism about the project's progress, highlighting that the additional funds will ensure timely completion and operational readiness. The metro line is expected to serve over 1.7 million passengers daily, significantly reducing the load on Mumbai?s existing suburban rail network and roadways. The development of Metro Line 3 is also anticipated to have positive environmental impacts by reducing vehicular emissions and promoting sustainable urban mobility. By providing an efficient alternative to private vehicles, the metro line will contribute to improved air quality and reduced carbon footprint in the city.

Next Story
Real Estate

Rajasthan HC rules builders can't sell properties without amenities

The Rajasthan High Court, expressing concern over the sale of plots and houses in privately developed colonies that lacked essential facilities such as drainage, electricity, and water, directed the state government, development authorities, and urban bodies to prevent developers from selling such properties unless they comply with construction regulations. The court emphasised that the Urban Development & Housing Department (UDH) must first issue a certificate verifying the suitability of a residential colony or society for habitation before any sale could proceed. A bench led by Chief Justi..

Next Story
Real Estate

Office space net absorption rises 14% in Q2 FY25 across seven cities

The net absorption of office space increased by 14 per cent annually during the July-September period across seven major cities, driven by improved demand, as reported by real estate consultant JLL. According to JLL's latest data, the net absorption of office space reached 12.16 million square feet in the third quarter of this fiscal year, compared to 10.69 million square feet during the same period the previous year. Net absorption is determined by calculating the difference between newly occupied floor space and vacated floor space. The data revealed that in Bengaluru, net absorption of ..

Next Story
Real Estate

Housing sales up 5% to 87,108 units across 8 cities in Q2 FY25: Report

Housing sales experienced a 5 per cent annual increase during the July-September period, reaching 87,108 units across eight major cities, driven by strong demand for premium homes, according to a report by Knight Frank India. The real estate consultant released its 'India Real Estate' report for the third quarter of the 2024 calendar year during a webinar, highlighting a moderate rise in housing sales, which contrasted with data from Anarock and PropEquity that indicated a decline in total sales across major cities during the same period. The report mentioned that the residential market had s..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000