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Japan, India ink ODA loan agreement

Tuesday, 01 Apr 2014

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The government of Japan and the government of India have inked an official development assistance (ODA) loan agreement for various projects totalling more than Rs 15,000 crore.

The projects will include three energy sectors -- New and Renewable energy; Micro, Small and Medium Enterprises Energy Saving; and Haryana Distribution System Upgradation. It will also include Delhi Metro Rail Project, Phase III.

Delhi Metro Rail Project, Phase III, being developed by Delhi Metro Rail Corporation, will receive approx Rs 8,933 crore ODA loan. The project comprises six corridors in a total length of 69.57 km to metro network with 31.11 km of elevated section and 38.46 km of underground section with extensions to existing lines.

For the New & Renewable Energy Development Project, Phase-II, Rs 1,800 crore ODA loan has been granted to power producers through Indian Renewable Energy Development Agency (IREDA) for the development of solar and wind power projects.

The ongoing project includes a loan of Rs 1,160 crore for wind power projects in Andhra Pradesh, Gujarat, and Karnataka, and Rs 220 crore for a solar power project in Andhra Pradesh.

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