Vijayawada Metro gets the much needed push

Amaravati Metro Rail Corporation is in the process of finalizing the concessionaire for the coveted Vijayawada Metro Rail Project. AMRC already finished the technical evaluation of the project and eight bidders managed to qualify. AMRC will be finalizing two of them as early as next week.

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The 11-km project, which was divided into two parts, is expected to be executed by the selected two players. The project will have the Central government’s Urban Development Ministry having 20% equity stake in the project. The construction after it begins will act as a huge boost to the Capital rush in Amaravati.

JICA is offering 4200 Crore as Loan to the project which will be the state government’s stake in the project. The loan is likely to be released by July. The loan will come up with a moratorium of 10 years and it has to be repaid in 30 years. JICA funding will come as a bilateral loan with a fixed interest of 0.30 per cent.