Ahmedabad: JICA to conduct final appraisal of Metro project in July end
In a move which marks a noteworthy advancement with regard to the Metro-Link Express for Gandhinagar and Ahmedabad (MEGA) project, the Japan International Co-operation Agency (JICA) has decided to conduct the second and final assessment on different technical and financial parameters of the project at the end of July.
In an initial appraisal of the MEGA project, the first round of project assessment was duly carried out by the JICA team on June 4, 2014. The second round of assessment will mark the final appraisal of the Metro project.
For the project, MEGA has sought a Rs 5,900-crore loan from JICA. MEGA will pay a 1.4 percent interest rate to JICA on the loan amount; and the term of the loan will be 30 years.
In reference to JICA’s appraisal of the Metro project, a senior MEGA official said that the detailed project report (DPR) was being assessed by the JICA team, which is also “checking the financial viability of the project.”
Noting that the project assessment being carried out by the JICA team underscores “standard procedure,” the MEGA official said: “The team has experts from various fields who are analyzing the project with due diligence – the investigation of a business proposition – prior to signing a contract with MEGA.”
Source- The Times of India
Japan International Co-operation Agency, JICA, mega project, Metro-Link Express for Gandhinagar
