Jaipur Metro Rail Corporation (JMRC) is making attempts to borrow Rs 969 crore from the Asian Development Bank (ADB) for Phase II project which involves Chandpol-Badi Chaupar section.
JMRC assured the multilateral lending institution of timely repayment and the viability of the project, land acquisition and rehabilitation of the affected on Mansarovar-Chandpol route.
The cost of the project is pegged at around Rs 3,000 crore. The JMRC had appointed DMRC as a consultant.
Recently, a two-member ADB committee met JMRC officials to seek information. The bank officials have already inspected the sites. Notably, the government has approved the extension of underground line.
The state government, on its part, would also discuss the loan proposal with the ADB. Expectedly, the loan will be released by July-August when the civic works for underground extension is scheduled to begin.
The ministry of urban development and the departments of economic affairs and expenditure have considered the proposal of loaning.