Japan International Cooperation Agency signs 5,509 crore loan agreement for Patna Metro Rail Project
NEW DELHI: The Japan International Cooperation Agency (JICA) signed a loan agreement with the Government of India to provide Japanese ODA loan of 98,612 million yen (Approx. Rs 5509 crore) on 29th March 2023 for Patna Metro Rail Project Phase 1.
The MoU was signed in the presence of Arunish Chawla (IAS), Managing Director, Patna Metro Rail Development (PMRC) and Additional Chief Secretary (ACS) of the Urban Development and Housing Department (UDHD), along with senior officials from JICA. Kundan Kumar ( IAS ) , Resident Commissioner, Bihar was also present at the event .
The objective of the project is to cope with the increase of traffic demand in Patna, the capital of Bihar, by constructing the new metro corridor 1 & 2, thereby contributing to improvement of the urban environment and development of the economy as well as mitigation of climate change through urban development focused on public transportation. The project
will contribute to the achievement of SDGs (Sustainable Development Goals) Goal 8, 9, 11 and 13.
According to plan, JICA will appoint consultants for providing consulting services (including construction supervision) for Patna Metro Rail Project by June 2023. The initial procurement package for international competitive bidding on project construction will be launched in June 2023 also.
The loan amount has been sanctioned for a repayement period of 30 years with 10 years grace period.
The 14.05 km Corridor 2 of Patna Metro will connect Patna Railway Junction to New Inter State Bus Terminal with 12 stations at Patna Junction (interchange with Corridor 1), Akashvani, Gandhi Maidan, PMCH, Patna University, Moin Ul Hag Stadium, Rajendra Nagar, Malahi Pakri, Khemni Chak (interchange),Bhoothnath, Zero Mile and New ISBT. Out of, 6 kilometres section with 5 stations will be elavated and remaining 8 kilometres with 7 stations will be underground.
The estimated cost of Patna Metro Rail Project is 13,365.77 crore (US$1.7 billion). The project is expected to be commissioned by 2028.
