Loan process for Jaipur Metro extension begins

The Jaipur Development Authority (JDA) has written to the state government and requested that it quote the required principal amount and deposit the interest on that principal in the state government account in order to begin the loan process for the extension of the Jaipur Metro. “Before applying for the loan, we must ensure that the state government holds the interest on the borrowed amount as security, a senior JDA official stated, So we had sent a proposal to the state government and would soon begin the loan application process. In October and November of 2022, respectively, the state government granted financial approval for Metro Line 1D and Line 1C. Metro services will be extended from Mansarovar to Ajmer Road (a 200-foot bypass) under Line 1D. Services will be extended from Badi Chaupar to Transport Nagar as part of Line 1C. In order to carry out both projects, Jaipur Metro Railway Corporation Limited (JMRCL) has designated Delhi Metro Railway Corporation (DMRC) as the lead agency. “However, the urban development and housing (UDH) department has authorized the civic body to take the loan on behalf of JMRCL because JDA is in a better position to accept loans. A senior official stated, JDA most likely would take the loan from the National Capital Region Planning Board (NCPRB). The project cost to extend metro services from Badi Chaupar to Transport Nagar is Rs 9935.10 million while the project cost to extend metro services for 1.3 kilometers to the 200-foot bypass side is Rs 2048.10 million. “JMRCL had taken a soft loan from Asian Development Bank for Line 1B, while the state government has done the entire funding for Line 1A. The same procedure would be followed for Line 1C and Line 1D extensions. However, this time JDA would accept the loan on JMRCL's behalf, an additional senior official stated.