In a step to realise the dream of having Gujarat’s own metro rail, the Japanese government on Friday signed a confirmation agreement with Government of India to fund the Ahmedabad Metro Rail Project phase-1 to the tune of ₹5,968 crore.
The first tranche, amounting to ₹4,456 crore, will be released in the next financial year.
During the Prime Minister Narendra Modi’s visit to Japan, it was decided to fund Ahmedabad Metro Project Phase-1 (total project cost ₹10,773 crore) through Japan International Cooperation Agency (JICA).
JICA and Ahmedabad Metro Company (MEGA) signed the MoU on July 24 in New Delhi.
Metro-Link Express Known as MEGA (Metro-Link Express for Gandhinagar and Ahmedabad), the project will promote integration with city’s existing mass transit systems like AMTS, BRTS, Railways and other modes of public transit system.
The Confirmation Agreement was signed between S Selvakumar, Joint Secretary, Department of Economic Affairs, Government of India, and Yutaka Kikuta, Charge d’Affaires at the Embassy of Japan, in the presence of IP Gaugam, Managing Director of MEGA at New Delhi.
After signing the agreement, IP Gautam said that the Ahmedabad-Gandhinagar Metro rail project is being promoted with the objective of providing safe, fast and eco-friendly transportation services to the public at affordable rates while simultaneously reducing the congestion on the roads.