AIIB Eyes Funding for AP Metro Projects

22 May 2025 CW Team

The Asian Infrastructure Investment Bank (AIIB) has expressed interest in financing Phase I of the metro rail projects in Visakhapatnam and Vijayawada.

Officials from AIIB recently met with Andhra Pradesh Metro Rail Corporation Ltd (APMRCL) Managing Director NP Rama Krishna Reddy and other senior representatives to discuss potential funding options. The team also conducted site inspections along key metro corridors in Vijayawada.

The total estimated cost for both projects is Rs 120 billion—Rs 61 billion for Visakhapatnam and Rs 59 billion for Vijayawada. AIIB has proposed attractive loan terms, offering a 35-year tenure with a 10-year moratorium and a 25-year repayment period, which are currently under evaluation by APMRCL.

The Corporation is actively engaging with multiple international financial institutions to secure cost-effective funding. These include Germany’s KFW Bank, France’s AFD Bank, Japan International Cooperation Agency (JICA), the Asian Development Bank (ADB), the New Development Bank, the World Bank, and AIIB.

The aim is to partner with financiers offering the most favourable interest rates to support the large-scale infrastructure development. During their visit, AIIB representatives Santosh and Paschal Russell reviewed key sections of the Vijayawada metro corridor—from PNBS to Gannavaram and Penamaluru to PNBS—and held discussions on the project’s financial structuring with APMRCL.

Real Estate

05 Aug 2026

CREDAI-MCHI to Host 10th Design & Construction Conference

CREDAI-MCHI will host the 10th anniversary edition of its Design & Construction Conference on August 19, 2026, at the Jio World Convention Centre in Mumbai.The event is expected to bring together more than 500 procurement leaders, construction heads, architects, consultants and senior real estate decision-makers, alongside over 50 construction and ancillary brands.The conference will feature product launches, technology showcases, knowledge sessions, strategic business-to-business networking and recognition of procurement professionals contributing to the transformation of the construction..

BorgWarner Wins Extension for High-Voltage Inverter Programmes

BorgWarner has secured a major extension of several high-volume high-voltage inverter programmes from a leading European automotive manufacturer.The contracts cover updated inverter designs for plug-in hybrid and 800V battery-electric vehicle applications. Production is scheduled to begin in 2029.Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said the programme extensions demonstrate the company’s position in power electronics and reflect the strength of its technology, in-house expertise and customer relationships.For plug-in hybrid vehicles, BorgWarner wil..

Castrol India Q2 Profit Rises 43% to Rs 3.48 bn

Castrol India reported a 43 per cent year-on-year increase in profit after tax to Rs 3.48 billion for the quarter ended June 30, 2026, supported by growth across its consumer, industrial and institutional businesses.Revenue from operations increased 25 per cent to Rs 18.71 billion during the second quarter of 2026, compared with Rs 14.97 billion in the corresponding period of 2025. EBITDA rose 41 per cent to Rs 4.94 billion from Rs 3.50 billion.Sequentially, revenue increased from Rs 15.45 billion in the first quarter of 2026, while EBITDA rose from Rs 3.29 billion. Profit after tax increased ..