Maha Metro inks MoU with ADB for $200 million soft loan

 

 

In a major boost for construction of Phase-II of Nagpur Metro, a tripartite agreement for release of $ 200 million loan was signed on Tuesday in city. The memorandum of understanding (MoU) was signed between officials of Ministry of Housing and Urban Affairs (MoHUA), Union Government; Maharashtra Metro Rail Corporation Limited (MMRDCL) and Asian Development Bank (ADB). The loan component would be released in Japanese Yen. Chief Minister Devendra Fadnavis was present during signing of the MoU at Vidhan Bhavan. The MoU is meant for financing Phase-II of Maha Metro’s Nagpur Project. Shravan Hardikar, MD, Maha Metro and Mio Oka, Country Director, ADB, signed the documents. Sujata Sounik, Chief Secretary, other senior State Government officials along with those from Maha Metro and ADB were present during the signing of the MoU. In Indian Rupee, the loan amount comes to Rs 1,530 crore.

 

ADB has committed to fund the project at low interest rate. Nagpur Metro Rail Project Phase-II is being jointly financed by ADB and the European Investment Bank (EIB) along with equity contribution from Government of India (GoI) and Government of Maharashtra (GoM). Phase-II will be spread over 43.8 km length encompassing 32 stations, covering the Nagpur Metropolitan area. Phase II covers peri-urban and rural parts of Nagpur district and will serve as an extension to the first phase. The collective population to be covered by two Phases is 21.39 lakh in 2019 (As per projections based on 2011 census) and now it is estimated to be around 34.87 lakh. The population covered by Phase-I is 13.38 lakh and that by Phase-II would be 8.01 lakh, in 2019.

 

The routes and the number of stations in Nagpur Metro Phase-II are as follows: Khapri to MIDC ESR (18.5 km & 10 Stations) Metro Stations: Eco Park (At Grade), Metro City (At Grade), Ashok Van, Dongargaon, Mohgaon, Meghdoot CIDCO, Butibori Police Station, MHADA Colony, MIDC KEC & MIDC ESR. Prajapati Nagar to Transport Nagar (5.6 km & 3 Stations) Metro Stations: Pardi, Kapsi Khurd, Transport Nagar. Automotive Square to Kanhan (13 km & 12 stations) Metro Stations: Pili Nadi, Khasara Fata, All India Radio, Kheri Fata, Lok Vihar, Lekha Nagar, Cantonment, Kamptee Police Station, Golf Club, Kanhan River. Lokmanya Nagar to Hingna (6.7 & 7 Stations) Metro Stations: Hingna Mount View, Rajiv Nagar, Wanadongri, APMC, Raipur, Hingna Bus Stand, Hingna.