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JICA may exit Kolkata Metro project

Tuesday, 14 May 2013
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Kolkata Metro's East West Metro Rail project in Kolkata is running into rough weather following Japan International Cooperation Agency's (JICA) threat to pull out of the project funding, citing inordinate delay.


JICA has agreed to sanction Rs 2,253 crore as soft loan for East West Metro Rail project. But the agency has threatened to pull out claiming delay on the part of implementing agencies who are demanding funds sanctioned by it. JICA has set June 30 as a deadline for the government to resolve funding issues, failing which it will withdraw from the project. The project work, started in 2008, is just 30 per cent complete as of now.


Kolkata Metro Rail Corporation is the promoter of East West Metro Rail. The metro rail will start from Howrah railway station to Salt Lake, a distance of 14.67 km with a total of 12 stations.

 

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