GUJARAT, INDIA (Metro Rail News): On 18th December 2021 Loan agreements for Surat Metro Rail Project-1 were signed in New Delhi between the Department of Economic Affairs (DEA), Govt. of India and German lender- KFW for an amount of approx. Rs. 3464 Cr (442.26 Million Euros).
The Surat Metro Rail Project Phase-1 was sanctioned for a total length of 40.35km with a total sanctioned project cost of Rs. 12020.32 Crores, of which Rs. 5434.25 Cr is to be financed through a loan. French Development Bank-AFD is a funding balance of 250 million Euros (approx. Rs. 1970 Cr).
GMRCL has achieved a milestone in its journey towards the accomplishment of the objective to make sustainable public transport accessible to all.
Construction work of the project is going on in full swing so as to achieve the targeted completion in the year 2024.