KfW and AFD shown interest to finance Rs 12,636-cr Surat Metro project

Anushka Khare Posted on: 2019-11-09 08:26:43 Viewer: 339 Comments: 0 Country: India City: Surat

KfW and AFD shown interest to finance Rs 12,636-cr Surat Metro project

Surat (Urban Transport News): It is good news for the people waiting for the Surat Metro Rail project that Germany and France came forward to support the project. A joint team of KfW Development Bank of Germany and Agence Française de Développement (AFD) of France has carried out a financial feasibility study of the Surat Metro Rail project Thursday. Now it is hoped that the both financial institution are likely to come up with an offer to finance the project.

The Rs 12,636 crore Surat Metro Rail project is being implemented by the Gujarat Metro Rail Corporation Limited. Earlier, a Japanese company and a French firm are also shown their interest to provide financial support to the metro rail project. Five members each from KfW Bank and AFD including public development bank have been working in tandem to finance projects in different parts of the world.

The team comprising of Bruno Bosle, country director, AFD India; Sylvaine Bernard-Srinivasan, environment and social safeguards specialist, AFD Paris; Jeremie Dulioust, environment and social safeguards specialist, AFD Paris; Mathieu Verdure, task team leader -Urban Transport, AFD Paris; Rajnish Ahuja, project manager- urban transport, AFD India; Olaf Goerke, senior project manager, KfW; Ulrich Thomas, technical expert, KfW; Achim Broenner, environment and social expert, KfW; Jutta Volmer, E&S expert, KfW; and Swati Khanna, senior urban mobility specialist, KfW, visited a number of locations in the city and later held discussions with the officials of Surat Municipal Corporation. Briefing about the visit, Municipal Commissioner Banchhanidhi Pani said:

The team was here to evaluate the project which it plans to finance. We have a few more offers and will choose the best possible option for the city. The stakeholders along with Government of India will decide their involvement in Surat metro rail project. Factors seen are hurdles in the implementation of the project, accessibility etc. We had good discussions and the team was highly impressed with Surat and its infrastructure. The team can either involve themselves fully in the project or enter into an agreement with Surat Municipal Corporation only to develop four railway stations.

The Surat Metro rail project will span 40.35 km long and will have 38 rail stations. Two corridors - one from Sarthana to Dream City at Khajod and another between Saroli and Bhesan will be constructed.

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