Categories: Business

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

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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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.