ADB to Grant ₹1,527 Crores for Nagpur Metro Phase-II Expansion
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Nagpur, Dec 17 (NationPress) The Asian Development Bank (ADB) will provide financial support amounting to ₹1,527 crores (USD 200 million) to expedite Phase II of the current Nagpur Metro Rail Project, as confirmed by officials on Tuesday.
A memorandum of understanding (MoU) was signed between MahaMetro and ADB, attended by Chief Minister Devendra Fadnavis and various senior officials from both organizations.
Fadnavis stated that Phase II of the Nagpur Metro will significantly enhance the development of Nagpur City and its adjacent areas.
MahaMetro's Managing Director Shravan Hardikar and ADB Director Mio Oka formalized the MoU today.
Phase II of the Nagpur Metro will receive a total investment of ₹3,586 crores from ADB and the European Investment Bank (EIB). Out of this, ADB will contribute ₹1,527 crores in Japanese Yen at a relatively low-interest rate, while the remaining ₹2,059 crores will be provided by EIB, according to officials.
The estimated cost of NMRP Phase-II is around ₹6,600 crores and will span a distance of 43.8 km across four distinct routes.
These routes include: Khapri-MIDC ESR (18.5 kms), Automotive Square-Kanhan River (13 kms), Prajapati Nagar-Transport Nagar (5.6 kms), and Lokmanya Nagar-Hingna (6.7 kms).
The MoU signing event was graced by Chief Secretary Sujata Saunik, MITRA CEO Pravin Pardeshi, MahaMetro Director Anilkumar Kokate, and various departmental officials associated with the Chief Minister's Office.
Inaugurated by Prime Minister Narendra Modi in March 2019, the current NMRP Phase-I, which is predominantly elevated, operates over 38.22 km with 38 stations. It consists of 18.55 km (East-West Corridor, 20 stations) and 19.65 km (North-South Corridor with 18 stations) along with two depots.
Phase II is expected to connect satellite towns around Nagpur and will benefit more than 1 million people living in the region, including Kamptee, Butibori, Hingna, and Kapsi.
The Kanhan route traverses through Kamptee, where thousands travel to Nagpur daily for employment and education. This region is also home to numerous significant coal mines operated by Western Coalfields Ltd, as well as large industrial areas like Butibori, accommodating around 750 industries that provide jobs for over 50,000 individuals.
