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. The coupon rate is yet to be fixed for debt, which would be provided without any pre-conditions.
A media statement issued by Nagpur Metro Rail Corporation Ltd (NMRCL) said that the loan would be repaid over next 20 years. The twin-corridor rail project will provide north-south and east-west connectivity with 38.21 km network.
About 85 per cent of the project land has already been handed over the NMRCL. The metro services are expected to commence by 2018.