Japan to invest over Rs 8,500 cr in infrastructure projects in India
Japan has committed Rs 8,582 crore as assistance to develop nine infrastructure projects in India.
By TNN |
NEW DELHI: Japan has committed Rs 8,582 crore as assistance to develop nine infrastructure projects in India. The assistance will help in undertaking projects such as the Kolkata metro, Hogennakal water supply project and Tamil Nadu urban infrastructure project, an official release said.
The second phase of the Delhi metro project will also be funded by Japan. This is the highest-ever official development assistance by the Japanese government to India. Negotiations on infrastructure projects like dedicated freight corridor, Chennai metro and Delhi-Mumbai industrial corridor have already been initiated between the two governments. Both the governments are also negotiating to set up an IIT in India.
The two have also agreed to have a bilateral currency swap agreement to meet any short-term liquidity crisis, which marks a major step in strengthening their bilateral economic relation. India and Japan have also set up forums like the High Level Policy Dialogue on Economic Development and the India-Japan Strategic Dialogue on Economic Issues that will hold discussions annually, the statement added.
The other projects covered by the latest aid include Hyderabad outer ring road project, Haryana transmission system project and UP forestry and poverty alleviation project. Earlier in the year, Japan had committed to fund the Goa water supply and sewerage project as well as the Maharashtra transmission system project.
The second phase of the Delhi metro project will also be funded by Japan. This is the highest-ever official development assistance by the Japanese government to India. Negotiations on infrastructure projects like dedicated freight corridor, Chennai metro and Delhi-Mumbai industrial corridor have already been initiated between the two governments. Both the governments are also negotiating to set up an IIT in India.
The two have also agreed to have a bilateral currency swap agreement to meet any short-term liquidity crisis, which marks a major step in strengthening their bilateral economic relation. India and Japan have also set up forums like the High Level Policy Dialogue on Economic Development and the India-Japan Strategic Dialogue on Economic Issues that will hold discussions annually, the statement added.
The other projects covered by the latest aid include Hyderabad outer ring road project, Haryana transmission system project and UP forestry and poverty alleviation project. Earlier in the year, Japan had committed to fund the Goa water supply and sewerage project as well as the Maharashtra transmission system project.
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