The Indian Government has entered into a $498.02m (€442.26m) loan pact with the Germany Development Bank – KfW (Kreditanstalt für Wiederaufbau) for the execution of Surat Metro Rail project in the Indian state of Gujarat.
The project’s total cost has been estimated at $1.69bn (€1.5bn), of which KfW is providing $498.02m.
French Development Agency AFD (Agence Française de Développemet) will also co-fund the project.
The Government of India reached an agreement with AFD for $281.52m (€250m) in January this year.
Covering a distance of 40.35km, the Surat Metro project intends to improve the transport infrastructure of the region.
In a statement, Indian Ministry of Finance said: “The project also aims at an integrated multi modal transport system in the influence zone of metro corridor to provide first and last mile connectivity and improved access to the metro system. Further, solar energy shall be harnessed at both depots of Surat Metro.”
The project is expected to provide a “reliable and safer public transport” and cut down long delays on key travel corridors in Surat city.
Separately, Indian Railways identified nearly 1253 railway stations for overhaul under Adarsh Station Scheme.
Of these, 1211 railway stations have been renewed while the remainder are expected to be modernised in Financial Year 2022-23.
Works include ramps at entry to station for physically handicapped and senior citizens, upgrades to platform surfaces and façade of the station building, station illumination and cleaning, and more.
Earlier this month, work commenced on the Bhairabi – Sairang railway line project in the Indian state of Mizoram.