Nagpur: In a significant development for Maharashtra’s infrastructure, the MahaMetro and Asian Development Bank (ADB) signed a Project Agreement for Nagpur Metro Rail Project Phase II, securing funding of $200 million (₹1,527 crore). The signing event was attended by Ms. Mio Oka, ADB’s Country Director, alongside senior officials from MahaMetro, the Government of Maharashtra, and ADB.
Maharashtra Chief Minister Devendra Fadnavis expressed his enthusiasm for the agreement, highlighting that the funding will be provided in Japanese Yen (JPY), offering MahaMetro the advantage of lower interest rates.
The Phase II expansion covers a 43.8 km-long metro rail project, expected to benefit over 10 lakh citizens in and around Nagpur, enhancing connectivity and boosting the region’s development.
The project is a testament to the collaborative efforts of the Government of Maharashtra and international institutions like ADB in driving infrastructure growth.
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