MMRC Announces Updated Cost for Mumbai Metro Line 3

The Mumbai Metro Rail Corporation (MMRC) has announced a revised cost for the underground Metro Line 3, which connects Colaba to Bandra SEEPZ. The Japan International Cooperation Agency (JICA) is providing funding for the project, with the total borrowing increasing to Rs 21,280.45 crore from the previous Rs 13,235 crore.

According to the Indian Express, JICA funding is being provided through pass-through assistance (PTA) via the Government of India. Reports indicate that funding has been disbursed in four tranches so far, with the fifth and final tranche set to be signed on July 5.

Source: The Financial Express

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