Published On : Thu, Dec 3rd, 2015

Big push for crawling Nagpur Metro Rail; France to fund Rs 900 cr

nagpur-metro-railNagpur: The slow pace of Metro Rail development in Nagpur got a big push when after Germany, France has agreed to finance Nagpur Metro Rail project. France government agency Agence France de Development (AFD) will enter into an agreement to sanction 130 million euro loan amounting to about Rs 900 crore for the Nagpur metro project in the month of May.

A three-member team of AFD is in Nagpur to review the Metro Rail project. The AFD team consisting of project coordinator Juliet Le Penerer, project manager Presly Daconic and Arnod Dophin visited the metro alignments.

On the sidelines of the visit the AFD held a press conference in which Juliet Le Penerer informed that the final loan agreement will be completed in May 2016. He further added that the rate of the interest will be according to the prevailing market rates. Managing director of Nagpur Metro Rail Corporation Limited (NMRCL) Brajesh Dixit informed that the AFD team is on Nagpur visit from last two days.

Earlier, Germany had shown interest and had agreed to invest 500 million euro for the project. The loan with Germay will be approved by December 15, he said.
Dixit further informed that a positive discussion was held with the AFD team for the remaining 130 millon euro loan. consequently, the total loan requirement of 630 million euro will be fulfilled. The Central & State government will have equity in this project. And the project is moving forward in right direction.

77 per cent land aquisition completed
Dixit informed that 77 per cent of the land aquisition has been completed. The final phase of the aquisition procedure is underway. Land is also being aquired from the railways and 3.5 hectare private land will also be required for the project. The land aquisition work will be completed soon.

Work on Wardha road to start soon
Dixit informed that all preparations have been done to start work from airport to Sitabuldi.This work will begin from Pride hotel area, for which traffic will be diverted. We have contacted DCP traffic for the permission. The work will start as soon the permission is given.