ADB pledges $200m for Nagarpur Metro Phase-II Extension

The Asian Development Bank (ADB) has pledged Rs15.27bn ($200m) to support the second phase of the Nagpur Metro Rail Project in Maharashtra, India.

Maharashtra Metro Rail Corporation (Maha Metro) signed a memorandum of understanding (MoU) with ADB for the funding.

The 43.8km-long metro rail project includes a total of 32 metro stations.

Expected to be completed in November 2027, the project will benefit one million citizens in and around Nagpur.

The total cost of the project is estimated at Rs67.08bn.

The project is expected to receive a total funding of Rs35.86bn from ADB and the European Investment Bank (EIB), out of which EIB will provide Rs15.27bn and the remaining Rs20.58bn will be provided by ADB.