This story is from November 7, 2020

Mumbai: German loan of Rs 4,800 crore for Metro lines 4 and 4A

In a boost to Metro 4 (Wadala to Kasarvadavli) and 4A (Kasarvadavli to Gaimukh), a German ministry has extended credit of Rs 4,800 crore for both projects.
Mumbai: German loan of Rs 4,800 crore for Metro lines 4 and 4A
The combined cost of these two lines is Rs 15,000 crore. Line 4 is 32km and Line 4A 2km, and around 20% work has been completed on the route (file photo)
MUMBAI: In a boost to Metro 4 (Wadala to Kasarvadavli) and 4A (Kasarvadavli to Gaimukh), a German ministry has extended credit of Rs 4,800 crore for both projects.
2

Copies of the loan agreement, the "highest disbursal for a project in India, at the lowest rate of interest offered by any financial institution", were exchanged between MMRDA commissioner R A Rajeev and the consul-general of Germany at a event here, attended virtually by urban development minister Eknath Shinde and chief minister Uddhav Thackeray.

An MMRDA spokesperson said, "The German federal ministry for economic cooperation and development (BMZ)-KfW approved two loans for euros 545 million to the Indian ministry of finance to fund Metro 4 and 4A, which will ease the distress of millions of commuters each day and help provide a cleaner, less congested city."
The combined cost of these two lines is Rs 15,000 crore. Line 4 is 32km and Line 4A 2km, and around 20% work has been completed on the route.
Thackeray said, "Though it is good to take decisions to start mega transportation projects, which are very much required in Mumbai, it is more important to do financial closures and provide all support like making available the required land. I hope Lines 4 and 4A will be completed on time." He said the loan from Kfw had eliminated skepticism that was raised regarding lack of funds to carry out Metro projects initiated and planned in the Mumbai metropolitan region.
MMRDA said the funds will cover system components for Lines 4 and 4A, footpaths and cycle routes surrounding stations to improve integration within the transport system. The 34km Metro line will link Mumbai to Thane.
(With PTI inputs)
End of Article
FOLLOW US ON SOCIAL MEDIA