The Government of India and the Germany Development Bank (KfW) have signed a EUR442.26 million (US$498.33 million) loan for the Surat Metro Rail project.
With the total estimated cost of EUR1.5 billion (US$1.69 billion), the project involves the development of a 40.35 km-long metro railway. The initiative is co-financed by the French Development Agency (AFD) and KfW. AFD signed a EUR250 million (US$281.7 million) agreement in January 2021.
The project aims to strengthen the public transport infrastructure of the Surat urban area, by relieving traffic congestion and providing an integrated multi-modal transport system. In addition, solar energy is planned to be used at both depots of the Surat metro.
Country updates
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December 16, 2021
India identified 13 airports for PPP procurement
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India invites bids for Dwarka stadium PPP in New Delhi
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CPP investment to acquire 25% stake in National Highways Infra Trust
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