Gujarat Metro Rail Corporation (GMRC) Ltd received a much-needed boost for phase-1 of the Surat Metro Project as a loan agreement between the Department of Economic Affairs and Germany’s KfW was signed for the amount of Rs. 3464 crore.
Surat Metro Phase 1 is 40.35 km long where the route from Sarthana to Dream city will be known as Diamond Corridor and from Bhesan to Saroli it will be known as a Textile Corridor.
The total cost of the project is Rs 5434.25 crore,where French Development Bank will provide Rs 1970 Crore and Germany’s KfW will give a loan of Rs 3464 crore. The Project will be ready by 2024.
The project is a 50:50 Joint Venture between the Government of India and the State Government of Gujarat.