KfW signs loan agreement for Nagpur Metro Rail Project

The Department of Economic Affairs, Ministry of Finance and German development bank KfW have signed a loan agreement worth Rs 37.5 billion (Euro 500 million) for the Nagpur Metro Rail Project in Maharashtra. The project involves the development of a 38.21 km long metro rail system in Nagpur, at an estimated cost of Rs 86.8 billion. For execution purposes, the project will be developed in two phases – Phase I (north-south corridor) covering a distance of 19.65 km from Automotive Square to Mihan and Phase II (east-west corridor) covering a distance of 18.55 km from Prajapati Nagar-Wardhaman Nagar to Hingna. The project is expected to be completed by December 2018.

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