EU bank to invest 650-mn euros in Kanpur Metro project

The European Union's (EU) bank will invest 650 million euros for the construction of Kanpur's first city metro line. It is the banks' second-biggest operation outside Europe that will finance a 32.4-km metro line with stations and rolling stock. The European Investment Bank's (EIB) investment will help about 3 million masses in Kanpur to benefit from green, fast and affordable public transport. The new metro system is expected to reduce commuting hours and open new employment and education opportunities in the city. The EU informed that the total EIB investment in connectivity projects and green infrastructure in India is now 2.6 billion euros. The investment will finance the new metro line with 18 elevated and 12 underground stations and rolling stock. This is the second metro rail project supported by EIB in Uttar Pradesh, following an investment of 450 million euros for developing a metro system in Lucknow.