Germany-based KfW (Kreditanstalt für Wiederaufbau) has agreed to sanction an INR25-billion loan for Phase I of the Vijayawada (Amaravati) Metro project. France-based Agence Francaise de Development (AFD) has also agreed to provide an INR15-billion loan for Phase I.
In November 2016, KfW and AFD together agreed to fund a total of INR40 billion for Phase I.
Vijayawada Metro Rail Project Phase I will comprise two corridors and is being developed at an investment of INR72.12 billion. Corridor 1 will span12.76 km from Pandit Nehru Bus Terminal (PNBT) to Penamaluru, covering 12 stations. Corridor 2 will span 13.27 km from PNBT to the Gannavaram Airport, covering 13 stations.
(1 INR [Indian Rupee] = 0.015 USD)