Insta
Japanese Boost For Trans-Harbour Link In Mumbai
The trans-harbour link (Utkarsh.v95.Wikimedia Commons)
The proposed Mumbai Trans Harbour Link, connecting Mumbai to Navi Mumbai is set to get a Japanese boost. The Japan International Cooperation Agency (Jica) signed an agreement to this effect with the Mumbai Metropolitan Region Development Authority or the, MMRDA. Under this agreement, JICA would provide a loan amounting to Rs 8,600 crore for the Harbour Link.
The loan is offered with a 10-year grace and a 30-year repayment period.
According to this Livemint report, JICA has agreed to fund 85 per cent of the total cost of the 22 kilometre link.
The same report also said that in a separate statement, the MMRDA said the agreement has been signed for the disbursement of the first tranche of Rs 7,910 crore. This is about 45 per cent of the total cost of the project
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