Japan pledges Rs 15,000-cr loan for five Indian projects

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    Japan pledges Rs 15,000-cr loan for five Indian projects
    Japan on Monday announced a Rs 15,000-crore official development assistance ( ODA) loan for five projects in India, including expansion of Delhi Metro and works related to wind and solar energy. Japan and India signed the ODA loan agreement for five projects totalling more than Rs 15,000 crore.
    "This is the largest amount ever signed on a single occasion in the history of Japanese ODA," a Japanese Embassy statement said.
    Elaborating on the projects, the statement said that the ODA loan has provided approximately Rs 8,933 crore to Delhi Mass Rapid Transport System Project ( phase 3) in order to enhance its transportation capacity.
    This project intends to link the existing 190 km radially developed network with additional 116 km belt line, including six routes and six intervals which connect Indira Gandhi International Airport and Noida district and construction of heritage line connecting Central Secretariat, Delhi Gate, Lal Qila and Kashmir Gate.
    The completion of the project will extend the length of network to 329.4 km and transform Delhi Metro into a global standard urban transportation system comparable to the Tokyo metro, the statement added.
    The loan agreement will include three energy sector projects- New and Renewable energy, Micro, Small and Medium Enterprises Energy Saving, and Haryana Distribution System Upgradation.
    The development comes after Japanese Prime Minister Shinzo Abe and Indian Prime Minister Manmohan Singh met at a summit in January. The loan agreement was signed by Takeshi Yagi, ambassador of Japan to India, and Rajesh Khullar, joint secretary, department of economic affairs in finance ministry.
    The statement said that for New and Renewable Energy Development Project- phase 2, Rs 1,800- crore loan has been granted to power producers through Indian Renewable Energy Development Agency Limited for the development solar and wind power succeeding Phase I of the project. The ongoing project includes a loan of Rs1,160 crore for wind power projects in Andhra Pradesh, Gujarat and Karnataka and Rs 220 crore for solar power project in Andhra Pradesh.

    Japan pledges Rs 15,000-cr loan for five Indian projects - Business Today
     
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