The metro rail project in Visakhapatnam has been much publicised. The German bank KfW has agreed to loan Rs 2500 crore for the same and the state government will begin working on the project soon.
Two corridors will be constructed under the project, a total of 26 KM – one corridor will cover 12.5 KM and the other, 13.5 KM. Another project is planned for the city and that will be taken up on a PPP mode. The corridors run between Gurudwara and Old Post Office and the other between Tatichetlapalem and The Park hotel. The project is expected to reach completion by 2019.
The first phase is expected to reach completion before 2018. The state government had previously opted out of the proposal to approach Japanese International Cooperation Agency for loan. That proposal had come with strings attached, with the agency insisting that 30% of the loan amount be utilised for procurement of rolling stock from the Asian country. They are now relying on German bank KfW and French bank Agence Francaise de Development for the project to be back on track.
The state government is looking forward to a loan of Rs 4000 crore on a total from these banks. The individual contributions are yet to be worked out. The Amaravati Metro Rail Corporation talked with various agencies, including European Investment Bank, World Bank and Asian agencies. They also wanted to approach Climate Bonds Initiative – a UK based non-profit to take the ‘green route’.
The Amaravati Metro Rail Corporation has invited logos for the metro rail project that are to be submitted by February 20. The logo should contain the Sunrise State, train, tracks, water, greenery and local cultural details reflecting Amaravati’s history. The best design gets Rs 50,000; second best Rs 30,000 and third best Rs 20,000. The logos can be submitted as hard copies or mailed to [email protected].
For further information, visit the AMRC website or contact AMRC General Manager KSVS Kameswara Rao on 9100086482.