India’s first underwater Metro
Posted on : 06 Feb 2020Views: 1277
- Kolkata Metro Rail Corp. expects to complete its East-West project, which runs partly under the city’s iconic Hooghly River, by March 2022 after a delay of several years doubled costs.
- The authority is awaiting a final installment of 200 million rupees ($2.8 million) over the next two years from the Indian Railway Board.
- A soft loan of 41.6 billion rupees from Japan International Cooperation Agency helps fund 48.5% of the project.
- India’s oldest metro, which started in 1984 with a North-South service, was due to expand by 2014 but faced problems including squatters on the planned route. These issues have contributed to the total project cost rising to about 86 billion rupees for some 17 kilometers from 49 billion rupees for 14 km.
- The new line is expected to carry about 900,000 people daily, — roughly 20% of the city’s population — and will take less than a minute to cross a 520-meter underwater tunnel.
- KMRC will repay the JICA loan over 30 years after an initial six-year moratorium. The interest rate is between 1.2% to 1.6%. The East-West metro project is 74% owned by India’s Railway Ministry and 26% by the nation’s Ministry of Housing and Urban Affairs.
Article Related Questions
India’s first underwater Metro rail project is expected at which place in India?
Right Ans : Kolkata