Maha Metro has announced that it finalized the debt arrangement for Nagpur Metro Phase-II public-private partnership (PPP) project in India. 

Asian Development Bank (ADB) and the European Investment Bank (EIB) will produce a loan of INR 35.86 billion (USD432.01 million) for the project. ADB will invest US$200 million in the project and the EIB - EUR239 million (US$261 million). In the first stage, the loan was provided by the French agency AFD and the German agency KFW. 

The project involves the construction of a 43.8 km railway that shall extend to Kanhan in the North, Butibori MIDC in the South, Transport Nagar (Kapsi) in the East and Hingna in the West in India. The railway will connect the satellite cities like Transport Hub at Kapsi, the Industrial areas of Hingna and Butibori and the Mining areas at Kanhan. Phase II comprises 1.2 km at-grade with 2 stations and 42.6 km elevated with 30 stations and will have only one interchange at Sitabuldi. The total cost of Phase II is over Rs 6,700 crore. Rs 3,100 in shares comes from the central and state governments.

The Nagpur Metro Rail Phase-II project is scheduled to be completed in 2026.