The Housing and Urban Development (Hudco) in India has approved a loan worth Rs7bn ($139m) for the Namma Metro project of Bangalore.

In April this year, the Asian Development Bank approved a loan of $250m to part-fund the 42.3km-long first phase of the Bangalore Metro project, which was estimated to cost Rs110bn ($2.19bn).

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The Karnataka Government has allocated Rs6.83bn ($138m) in the budget for 2011-12, while the Japan International Cooperation Agency is extending an official development assistance loan for the project.

The Bangalore Metro Rail Corporation (BMRCL) has spent Rs40bn ($814m) on the project, which is expected to decongest the city, relieving the pressure on road transportation in Bangalore.

The project is expected to be completed by March 2013.

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Nominations are now closed for the Railway Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact across the defence sector.

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MTR Corporation and Dragages Hong Kong triumphed in three categories – Research & Development, Environmental and Safety – for their Kwu Tung Station project . Learn how this future Northern Link–East Rail Line interchange sets new benchmarks in digital construction, decarbonisation and safety management.

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