ADB signs $500 mn loan with India for Bengaluru metro expansion
RAILWAYS & METRO RAIL

ADB signs $500 mn loan with India for Bengaluru metro expansion

India and the Asian Development Bank (ADB) signed a $500 million loan on Monday to expand Bengaluru's metro rail network by building two new metro lines totalling 56 km.

Rajat Kumar Mishra, India's Additional Secretary for Economic Affairs, and Takeo Konishi, Country Director of the Asian Development Bank's India Resident Mission, signed the agreement for the lender.

By creating higher density, compact, mixed-use, mixed-income, safe, resource-efficient, and inclusive neighbourhoods, the TOD-based urban development model aims to realign growth and increase the city's economic productivity. Transit-Oriented Development (TOD) also aims to increase land values along these corridors, generating capital revenue for the state to meet the city's long-term investment needs.

Through the seamless integration of various modes of public transportation, the Multi-Modal Integration (MMI) will aim to provide people-oriented, environmentally friendly solutions as well as a safe, total mobility solution for all city residents.

The project will build two new metro lines with 30 stations between Central Silk Board and Kempegowda International Airport, mostly elevated along Outer Ring Road and National Highway 44.

A $2 million technical assistance grant from the Asian Development Bank will assist the state government in developing urban development plans and their implementation frameworks, with a focus on TOD and MMI. The money will also be used to improve the capacity of the Bengaluru Metro Rail Corporation Ltd and other state agencies to carry out these plans.

Image Source


Also read: Kodambakkam-Poonamallee metro stretch to be ready by June 2024

Also read: Kochi Metro Rail Ltd explores resources to develop land parcels

India and the Asian Development Bank (ADB) signed a $500 million loan on Monday to expand Bengaluru's metro rail network by building two new metro lines totalling 56 km. Rajat Kumar Mishra, India's Additional Secretary for Economic Affairs, and Takeo Konishi, Country Director of the Asian Development Bank's India Resident Mission, signed the agreement for the lender. By creating higher density, compact, mixed-use, mixed-income, safe, resource-efficient, and inclusive neighbourhoods, the TOD-based urban development model aims to realign growth and increase the city's economic productivity. Transit-Oriented Development (TOD) also aims to increase land values along these corridors, generating capital revenue for the state to meet the city's long-term investment needs. Through the seamless integration of various modes of public transportation, the Multi-Modal Integration (MMI) will aim to provide people-oriented, environmentally friendly solutions as well as a safe, total mobility solution for all city residents. The project will build two new metro lines with 30 stations between Central Silk Board and Kempegowda International Airport, mostly elevated along Outer Ring Road and National Highway 44. A $2 million technical assistance grant from the Asian Development Bank will assist the state government in developing urban development plans and their implementation frameworks, with a focus on TOD and MMI. The money will also be used to improve the capacity of the Bengaluru Metro Rail Corporation Ltd and other state agencies to carry out these plans. Image Source Also read: Kodambakkam-Poonamallee metro stretch to be ready by June 2024 Also read: Kochi Metro Rail Ltd explores resources to develop land parcels

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code