Visakhapatnam Metropolitan Region Development Authority Commissioner N. Tej Bharat has reviewed the mobilisation of Rs 26.18 billion required for the Visakhapatnam Metro Rail Project, assessing progress and key financial and implementation challenges.

During the review meeting, the Commissioner evaluated the project’s current status, timelines and execution hurdles, emphasising the need for stronger inter-departmental coordination to ensure timely delivery.

He said the project could benefit from identifying nationalised banks willing to provide financing at lower interest rates. He also recommended that loan agreements include a minimum moratorium period of five years on repayments to ease financial pressure during the initial implementation phase.

The Commissioner stressed the importance of wider consultations with banks and financial institutions operating under Reserve Bank of India guidelines. To reduce the project’s overall debt burden, he advised officials to seek exemptions from state taxes and GST from the state government.

On land acquisition, he directed officials to reassess station locations, alignments and related aspects, and to explore options to further minimise land-related costs. The meeting was attended by senior officials, including Joint Commissioner Ramesh, Chief General Manager (Finance) UJM Rao, Chief General Manager (Projects) Brahmanandam, Visakhapatnam RDO Sudha Sagar and other officials.

The review underscores the focus on strengthening the financial structure and implementation framework of the Visakhapatnam Metro project, which is expected to significantly enhance urban mobility in the city.