Japan may fund Mumbai Metro III

The MMRDA has initiated talks with the Japanese International Cooperation Agency (JICA), in a bid to raise funds for the Rs 10,000-crore Metro III line from Colaba to Bandra. MMRDA commissioner Ratnakar Gaikwad, who held talks with JICA’s senior representative Hiroshi Suzuki, said the outlook for funding is positive. “We have also had a talk with the central urban development ministry in New Delhi and will be forwarding our request to the agency through the state government. We are keen on following the Delhi Metro Model for the third line,” he said. JICA, which had financed the Delhi Metro, has shown an interest in the Mumbai Metro.

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