Thursday, April 14, 2016
A four member Japan International Cooperation Agency (JICA) team inspected the proposed metro corridors in the city on Thursday.
Amaravati Metro Rail Corporation MD Ramakrishna Reddy said that JICA loan of Rs.4,200 crore would be released in July and was being given with a moratorium of 10 years. The loan amount has to be repaid in 30 years. The State government would release Rs.150 core for land acquisition for the project. The JICA is funding the metro rail project as a bilateral loan with a fixed interest of 0.30 per cent. The land needed for the project is 31 hectares including government land of 1.5 hectares and private land of 29.44 hectares and 77 families are likely to be affected and the cost resettlement and rehabilitation is expected at Rs.46.73 crore.
The AMRC is Special Purpose Vehicle which has been formed to implement the project with the help of Delhi Metro Rail Corporation.