ADB and EIB to help MahaMetro raise Rs 3,586 cr for Nagpur Metro phase-II

03 Jan 2023 CW Team

The MahaMetro Corporation has finalised the debt arrangement for its project's second phase in Nagpur. It would be raising a loan of Rs 3,586 crore from the Manila-based Asian Development Bank (ADB) and the European Investment Bank.

There has been a change in lenders for the second phase. The first phase was funded by France’s AFD and KFW a German agency. Both together had chipped in 630 million Euros.

French consul general Jean Marc Sere-Charlet during his visit to Nagpur this month had expressed that the country would be keen to fund the second phase of the Nagpur Metro project too.

Now ADB would be contributing $200 million with EIB putting in 239 million Euros for the project. The amount comes to over Rs 3,500 crore. The decision was taken a few days ago.

Managing director of MahaMetro Brajesh Dixit said tying up with the lenders is a random process. “It depends on the availability of international financial institutions at that point in time and their capacity to lend for projects in India at the given juncture. The exact terms and conditions would be known when the deal is finally signed. Certain approvals from the state government would be needed before that,” he said.

The total cost for the second phase comes to over Rs 6,700 crore. Out of this, Rs 3,100 is in the form of equity coming from central and state governments. For the first phase, it was Rs 8,680 with both debt and equity at 50% each, said a source.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..