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GoI & German Bank signed Euro 442.26 mn loan for Surat Metro Rail Project

GoI & German Bank signed Euro 442.26 mn loan for Surat Metro Rail Project_50.1

Government of India and the Germany Development Bank- KfW (Kreditanstalt fur Wiederaufbau) signed a 26 million euros loan for a 40.35 km Surat Metro Rail project in Gujarat. The total cost of the project is Euro 1.50 billion, out of which KfW is financing Euro 442.26 million. The project is co-financed by French Development Agency, AFD (Agence Française de Développemet) with Euro 250 million.

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Prime Minister Narendra Modi had launched the Ahmedabad Metro Rail Project Phase-II and the Surat Metro Rail Project in January this year. The project is aimed at reducing traffic congestion and long delays on major travel corridors in Surat city and urban areas.

About the Surat Metro project:

The 40.35 km Surat Metro project aims to strengthen the transport infrastructure of the urban part of Surat. It comprises two corridors. While corridor-1 is 21.61 km long and is from Sarthana to Dream City. Corridor-2 is 18.74 km long and is from Bhesan to Saroli.

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GoI & German Bank signed Euro 442.26 mn loan for Surat Metro Rail Project_60.1

GoI & German Bank signed Euro 442.26 mn loan for Surat Metro Rail Project_70.1

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