The Japan International Cooperation Agency (JICA) has signed agreements with the Government of India to provide loans of up to $1.01bn for two rail projects.
Under the agreements, JICA will offer $790m for the Mumbai-Ahmedabad High-Speed Rail project and $230m for the Kolkata East-West Metro Project.
Currently under construction, the Mumbai-Ahmedabad High-Speed Rail project is a 508km-long rail corridor project. The ground-breaking ceremony of the project was conducted last year.
It will be based on the Japanese Shinkansen system network and is being implemented by National High-Speed Rail (NHSRCL).
Once complete, the rail system will enable connectivity between Mumbai and Ahmedabad in around two hours, one-third of the current time taken by conventional train system.
Furthermore, the project will help reduce pollution, boost connectivity between the two cities, as well as support economic development along the corridor.
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This high-speed project is the first of its kind in India and is scheduled for completion in December 2023.
The Kolkata East-West Metro involves development of a mass rapid transit system in the Kolkata Metropolitan Area in the state of West Bengal.
Currently under construction, the project is expected to be fully operational in June 2021.
The metro rail line is intended mitigate traffic congestion in the city, as well as support regional economic development in the metropolitan area.
Alongside the Kolkata metro project, JICA has supported development of multiple other metro transit systems in the country, including Delhi, Bengaluru, Chennai, and Mumbai among others.