Germany to fund Rs.6,760 cr metro project

In a recent development, Amaravati Metro Rail Corporation (AMRC) is exploring the possibility of partly funding the Vijayawada Metro Rail Project with the assistance of a German funding agency. In this connection, AMRC is holding discussions with various banks and examining other options for project sanctioned by the centre for building Vijayawada-Visakhapatnam. The cost of Vijayawada Metro Rail project is Rs.6,769 crore, including land acquisition and relief & rehabilitation (R&R) cost and that AMRC had submitted the proposal to the Centre for final clearance after which the Central government has clubbed the proposal with discharge of tenders by Delhi Metro Rail Corporation (DMRC). AMRC has called Expression of Interest (EOI) for the preparation of Detail Project Report (DPR) for Vijayawada Metro Rail project. Meanwhile, the state government has extended the metro corridors up to Gannavaram airport, Jakkampudi and Krishna canal junctions, stretching around 43 km and has also permitted the AMRC to borrow Rs 1,859 crore from HUDCO and other banking institutions.