Metro Rail News Online

New Delhi: It is very auspicious achievement made by India  that it has secured 3rd rank after two developed countries viz. China and South Korea to host the series of the annual summit of Asia Infrastructure Investment Bank (AIIB). According to information received from AIIB press release , they have planned to invest a sum of total USD100 crore in the National Infrastructure Investment Fund (NIIF), a public-private initiative to finance infrastructure activities in India and investment of another USD100 million is under consideration. And the total investment of USD100 crore is already announced by the AIIB. "I believe that India and AIIB are both strongly committed to making economic growth more inclusive and sustainable. In India, we are applying novel Public Private Partnership models, Infrastructure Debt Funds, and Infrastructure Investment Trusts to fund infrastructure", said Prime Minister Narendra Modi [caption id="attachment_14942" align="alignnone...

Bangalore: The Bangalore Metro Rail Corporation (BMRCL) is expected to finalise a 300-million loan (Rs 2,275 crore) from the Asian Infrastructure Investment Bank (AIIB) in the next two days. The loan will have a 15-year tenure and comes with a 2.2% rate of interest. The Beijing-headquartered bank is owned by several Asian countries and India is its second largest stakeholder. The BMRCL’s response follows AIIB’s offer of loan to fund Phase II of the Namma Metro project on reasonable terms. The AIIB team has already had four rounds of discussions with BMRCL officials in Bengaluru. A BMRCL delegation led by managing director Pradeep Singh Kharola is in Beijing to close the deal. The final round of negotiations is scheduled for Nov 8-9.Once the terms are finalised, the Department of Economic Affairs (DEA) of the Union government is expected to sign the finance contract in about two months paving way for the flow of funds. The Luxembourg-based European Investment Bank (EIB), wh...

New Delhi: The Asian Infrastructure Investment Bank (AIIB) is mulling pumping in $1.5 billion (Rs 9,599 crore) in six new projects in India that includes Rs 1,279 crore in India"s National Investment and Infrastructure Fund (NIIF), a top AIIB official has said. India has been trying to attract investments for NIIF from several international institutional investors. The Indian government has committed Rs 20,000 crore to the NIIF. "The bank is considering contributing to NIIF in addition to other projects across India. For the proposed investment into the NIIF, the estimated fund is $200 million. The bank is currently reviewing six projects in India. The projects are focused on improving transport, energy and urban infrastructure across the country," Danny Alexander, Vice President and Corporate Secretary, AIIB, told IANS. The $1.5 billion proposed investments by AIIB in the country, include Mumbai Metro Line 4 Project ($500 million), Bangalore Metro Rail Project Line R6...