$76 million loan from JICA for project  India has signed a loan deal worth $76 million with Japan International Cooperation Agency (JICA) to upgrade the environment management plan at Alang-Sosiya ship recycling yards in Gujarat. The total cost of the project will be $111 million, out of which $76 million will be provided as a soft loan from JICA, as per a report in Economic Times. Out of the remaining amount, $25 million as taxes and fees will be borne by Government of Gujarat and the balance $10 million will be shared by Ministry of Shipping & Government of Gujarat. The project will be executed by Gujarat Maritime Board (GMB) and is likely to be completed by 2022. This project will help the Alang-Sosia ship-recycling yards to comply with international safety and environmental regulations, according to the government of India. It is expected to attract more business at the recycling facilities at Alang, thereby further consolidating India’s share in the global ship-recycling industry.