The Union government and the Germany Development Bank KfW (Kreditanstalt für Wiederaufbau) recently signed a 442.26 million euros loan pact for the Surat Metro Rail project. The total cost of the project is 1.5 billion euros, of which KfW is financing 442.26 million euros, the Finance Ministry said in a statement and informed that the project is being co-financed by French Development Agency, AFD (Agence Franaise de Dveloppemet). The Agreement with AFD for 250 million euros was signed in January this year.
The 40.35 km Surat Metro project aims to strengthen and augment the transport infrastructure of the Surat urban agglomeration to lessen traffic congestion and to integrate town and land use planning through Transit-Oriented Development. The project also aims at an integrated multi-modal transport system in the influence zone of the metro corridor to provide first and last mile connectivity and improved access to the metro system. Further, it added that solar energy shall be harnessed at both the depots of Surat Metro as the project is envisaged and planned to have a system and transformational impact in terms of a reliable and safer public transport, reduction in traffic congestion and curtailing long delays on major travel corridors in Surat city and urban areas by providing integrated mass public transport system.