14-05-2025
Andhra Pradesh Metro Projects: Rs 12,000 Crore Loan Deal with Foreign Banks
A key step has been taken for the metro rail projects in Andhra Pradesh (AP). Metro Rail Corporation MD Ramakrishna Reddy met with representatives from several foreign banks. The MD held talks with banks that provide loans at low interest rates.
Representatives from KFW, AFD, ADB, NDB, AIIB, JICA, and the World Bank attended the meeting. All of them inspected the proposed metro corridors in Vijayawada at the field level.
In the meeting that followed, it was decided to raise a loan of Rs. 6,100 crore for the Visakhapatnam Metro and Rs. 5,900 crore for the Vijayawada Metro. It is reported that representatives from the foreign banks will soon hold discussions with both the central and state governments.
