The German development bank KfW has reviewed the Rs 8,680-crore Nagpur Metro Rail project and could soon take a call of providing Rs 3,700 crore debt for the project.
According to a release issued by the Nagpur Metro Rail Corporation the loan would be repaid over the next 20 years. The twin-corridor rail project will provide north-south and east-west connectivity with 38.21 km network.
Howver, the coupon rate debt is yet to be fixed for debt.
Meanwhile in other news, the Chennai Metro Rail officials are expecting a approval for the phase I extension of Chennai Metro Rail from Washermanpet to Wimco Nagar by January, 2016.
According to a news report, CMRL officials have begun work to finalise a design consultant who will create the detailed designs and drawings for the civil and architectural work for the stations from Washermanpet to Wimco Nagar.
The report further added, that the Centre hasn't given its nod yet for the project extension.