Germany’s Development Bank KfW will provide a loan assistance of €500 m (Rs. 3,750 crore) for metro system in Nagpur city. The loan period is 20 years with a moratorium of five years and disbursal will be based on the progress of the project over three years.
In this regard, a loan agreement was signed by Joint Secretary in Department of Economic Affairs S Selvaraj and Director General of KfW Roland Siller in New Delhi. With this Nagpur metro project becomes first metro to be financed under the Indo-German partnership for clean, socially inclusive and climate friendly mobility for people in cities.
The project is being executed by Nagpur Metro Rail Corporation Limited (NMRCL) and its total costing is of 8,680 crore rupees. Sanctioned by the Government of India in August 2014, Nagpur Metro Project envisages two corridors i.e 19.70 km North-South section from Automotive Square to Khapri and 18.60 km long line between Prajapati Nagar and Lokmanya Nagar. Physical works commenced in May, 2015 and the whole Metro would be operational by March, 2019
Extra Info :
German Ambassador : Dr. Martin Ney
OSD (Urban Transport) in the Ministry of Urban Development : Shri Mukund Sinha
Managing Director of Nagpur Metro : Shri Brijesh Dixit
So lets discuss some questions related to this article :
1. Which country’s development bank will provide a loan of Rs. 3750 for Nagpur Metro ?
2. Expand the term NMRCL and name the MD of Nagpur metro ?
3. Who is the present German Ambassador to India ?
Courtesy : The Hindu