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Railways Industry News

Loan process for Jaipur Metro extension begins

Wednesday 15th Feb 2023    224
Loan process for Jaipur Metro extension begins
 
Jaipur :

The Jaipur Development Authority (JDA) has written to the state government asking it to quote the required principal and deposit the interest on that principal into the state government's account to start the loan process for the expansion of the Jaipur Metro.

"Before we apply for the loan, we need to make sure that the state government keeps the interest on the loan amount as security," a senior JDA official stated, "So we had sent a proposal to the state government and would soon begin the loan application process."

In October and November of 2022, the state government granted financial approval for metro lines 1D and line 1C, respectively. Metro services will be extended from Mansarovar to Ajmer Road (a 200-foot bypass) under line 1D. Services will be extended from Badi Chaupar to Transport Nagar as part of line 1C. To carry out both projects, Jaipur Metro Railway Corporation Limited (JMRCL) has designated Delhi Metro Railway Corporation (DMRC) as the lead agency.

"However, the Urban Development and Housing Department (UDH) has authorized the citizens' body to take the loan on behalf of JMRCL because JDA is in a better position to accept loans. A senior official stated, "JDA would most likely take the loan from the National Capital Region Planning Board (NCPRB)."

The project cost to expand metro services from Badi Chaupar to Transport Nagar is Rs 9935.10 million, while the project cost to expand metro services by 1.3 kilometers to the 200-foot bypass side is Rs 2048.10 million.

"JMRCL had taken a soft loan from the Asian Development Bank for line 1B, while the state government did the full funding for line 1A. The same procedure would be followed for line 1C and line 1D extensions. This time, however, JDA would accept the loan on behalf of JMRCL," an additional senior official stated.

 
 
 
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