Japan granted ODA worth Rs 5,536 crore to India for Chennai and Ahmedabad Metro

By Accommodation Times News Services

Japan investmentMr. S. Selvakumar, Joint Secretary, Department of Economic Affairs, Government of India and Mr.Yutaka Kikuta, Charge d’ Affaires a.i., Embassy of Japan to India exchanged Notes between the two countries, for Japan’s Official Development Loan Assistance (ODA) worth Rs. 5,536 crore to India for Chennai Metro Rail Project (IV) and Ahmedabad Metro Project. The Government of Japan has committed ODA loan of an amount of JPY 19.981 billion (= approx. Rs.1080 crore) for the Chennai Metro Rail Project (IV) and JPY 82.434 billion (=approx. Rs.4456 Crore) for the Ahmedabad Metro Project.

India and Japan have had mutually beneficial economic development cooperation since 1958. In the last few years, the economic cooperation between India and Japan has strengthened and grown into strategic partnership. With general political consensus and popular support for the greater cooperation between India and Japan, the partnership is poised for a great future.

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