New Delhi/Gandhinagar/Surat: Gujarat Metro Rail Corporation (GMRC) Ltd. informed that loan agreements for Surat Metro Rail Project-1 in national capital New Delhi have been signed today between Department of Economic Affairs (DEA), Govt. of India and German lender- KFW for amount of approx. Rs. 3464 crore (442.26 Million Euros).

GMRCL in its note stated: The Surat Metro Rail Project Phase-1 was sanctioned for a total length of 40.35km with a total sanctioned project cost of Rs. 12020.32 Crores, of which Rs. 5434.25 crore is to be financed through loan. French Development Bank -AFD is funding balance 250 Million Euros (approx. Rs. 1970 Cr).

GMRCL said it has achieved a milestone in its journey towards accomplishment of the objective to make sustainable public transport accessible to all. Construction work of the project is going on in full swing so as to achieve the targeted completion in year 2024. DeshGujarat