300 Crore Funding for Amaravati Metro Rail

Amaravati Metro Rail has got the much-needed boost after two funding agencies came forward to lend about 300 Crore for the Project. Two funding agencies, KFW from Germany and AFD from France, have arrived at the capital and held talks with MD of the Amaravati Metro Rail Corporation (AMRC).

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The process of opening tenders will be completed by February 20 and work will be finalized by the third week of March. This is the third visit of the funding agencies within a span of nine months. The state government had already released Rs 300 crore for land acquisition then.

This funding if realized will help the project work, which has been on hold for the past several months, to get off the ground. Earlier JICA approved funding for the project but then the state government dropped from it after the agency attached stringent strings to the loan.