UP metro projects will receive $3 billion investments from EIB

16 Feb 2023 CW Team

The European Investment Bank (EIB) has extended its partnership with the Uttar Pradesh Metro Rail Corporation (UPMRC) by announcing plans to invest 3 billion euros in a number of upcoming metro projects in Uttar Pradesh.

In a recent meeting with the state chief minister, a six-member EIB delegation team expressed satisfaction with UPMRC's dedication to providing the people of Uttar Pradesh with world-class infrastructure and environmentally friendly transportation options. The Lucknow Metro Project, the Kanpur Metro Project, and the Agra Metro Project are three of the state's metro projects for which the EIB has already provided financial support.

It has pledged to provide financial support for 650 million euros, for the Kanpur Metro Project, and it has already given the Indian government 200 million euros for the project. The EIB will provide a loan of 450 million euros for the Agra Metro Project.

The EIB has promised to invest an additional 3 billion euros, up from the current 1.5 billion euros. The delegation also went to the UPMRC pavilion at GIS in Vrindavan Yojna and took the metro from Hazratganj to Transport Nagar Metro station during their trip. Six additional cities, including Gorakhpur, Pryagraj, Varanasi, Jhansi, Bareilly, and Meerut, will soon be served by the Uttar Pradesh Metro Rail Corporation.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..