India, Germany Development Bank sign loan pact for Surat Metro Rail Project

The Government of India and the Germany Development Bank KfW (Kreditanstalt fr Wiederaufbau) on Friday signed a 442.26 million euros loan pact for Surat Metro Rail project.

The total cost of the project is 1.5 billion euros, of which KfW is financing 442.26 million euros, a Finance Ministry statement said.

The project is being co-financed by French Development Agency, AFD (Agence Franaise de Dveloppemet). The Agreement with AFD for 250 million euros was signed on January 28, 2021, it said.

"The 40.35 km Surat Metro project aims to strengthen and augment the transport infrastructure of the Surat urban agglomeration. It will relieve traffic congestion and provide integrate town and land use planning through Transit-Oriented Development," it said.

The project also aims at an integrated multi modal transport system in the influence zone of metro corridor to provide first and last mile connectivity and improved access to the metro system, it said.

Further, it said, solar energy shall be harnessed at both depots of Surat Metro.

The project is envisaged and planned to have a system and transformational impact in terms of a reliable and safer public transport, reduction in traffic congestion and reduction in long delays on major travel corridors in Surat city and urban area by providing integrated mass public transport system, it added.