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.

Infrastructure Urban

07 Jul 2026

IHC and Adani to Invest US$11.5 bn in Odisha Aluminium Project

Abu Dhabi's International Holding Company (IHC) will invest US$11.5 bn in an integrated aluminium project in the eastern Indian state of Odisha in a joint venture with the Adani Group, a state official said. The official said the announcement represented the country's largest foreign investment in mining and metallurgy. Officials said the venture would span both mining and metallurgical activities across several facilities in the state. The project has been described as integrated, encompassing upstream bauxite extraction and downstream smelting and metallurgy, and is intended to develop a com..

Air India and SIAEC to Explore MRO Joint Venture in India

Air India and SIA Engineering Company (SIAEC) have signed a memorandum of understanding (MoU) to explore the formation of a maintenance, repair and overhaul joint venture in India. The MoU, signed on Friday, will examine collaboration to develop India as a global aviation MRO hub and to serve growing needs across the Indian and regional markets. SIA Engineering Company, part of the Singapore Airlines Group which holds a 25.1 per cent stake in Air India, will bring technical expertise alongside Air India's established airline operations network. The partnership builds on existing cooperation be..

Assam and Centre Review Aviation Projects Push Silchar Airport Approval

Assam and the Centre on Thursday, July two reviewed a series of aviation infrastructure projects aimed at strengthening air connectivity across the state, with the proposed greenfield airport at Silchar emerging as a key priority. The review formed part of broader efforts to position Assam as a major aviation and logistics hub for the north east. Officials outlined timelines and preparatory work that they said would guide the next stages of project approvals. The Chief Minister met the Union Civil Aviation Minister at Rajiv Gandhi Bhavan in New Delhi and described the meeting as very productiv..