Japan sanctions Rs8,600 crore loan for Mumbai trans-harbour link
The loan is offered at concessional rate of yen-London inter-bank offered rate plus 0.1% for the project and 0.01% for consulting services with a 30-year repayment period, including 10 years of grace period. Photo: Hindustan Times
MUMBAI: The Japan International Cooperation Agency (Jica) on Friday signed an agreement with the MMRDA to provide ¥144,795 million, or around Rs8,600 crore, official development assistance (ODA) loan for the ambitious trans-harbour link project in the city (MTHL).
“The financial assistance would be utilised to develop an expressway link comprising a dual three-lane main- carriageway bridge connecting Sewri on the northeastern periphery of Mumbai to Chirle in Navi Mumbai,” Jica said in a statement.
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