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

25 Aug 2021 CW Team

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

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..