New Delhi, Nov 29
Japan will give development assistance loans worth Rs.5,479 crore ($821.4 million) for the Chennai and Ahmedabad Metro projects, an official statement said on Sunday.
“The latest initiative is the agreement signed between the governments of India and Japan for an official development assistance loan of an amount of JPY 19.981 billion (around Rs.1,069 crore) for the Chennai Metro Rail Project (IV) and JPY 82.434 billion (around Rs.4,410 crore) for the Ahmedabad Metro Project,” the India’s finance ministry said in a statement here.
Noting India attaches highest importance to infrastructure projects, it said: “Within urban infrastructure, provision of metro rail gains more importance because of its environment friendly nature. It reduces the traffic congestion in the cities where the traffic is over flowing and also reduces greenhouse gas emission.”
India is continuously making efforts to obtain bilateral and multilateral funding to meet this financial requirement, it added.
1. The conversion rate used in this article is 1 USD = 66.70 Rupees.
- Pegasus snooping: SC extends 4 weeks’ time for submitting the final probe report. A total of 29 phones were submitted for examination - May 20, 2022
- Appear before CBI within 16 hours after landing in India, Court tells Karti. CBI asked to give 3 days’ prior notice before arrest - May 20, 2022
- Chidambaram family’s CA to 4-day CBI custody. Vedanta Group also gave Rs.1.5 crore as loan to Karti firm, says CBI - May 19, 2022