Hyderabad Metro | HMRL to close deal with German Bank KfW for Rs 1,000 crore loan
Hyderabad: One month after its launch, the Hyderabad Metro Rail project is still stabilizing in its first phase of operation, but the administration is already preparing funds for further development. The administration is near an agreement with the German development bank KfW for a loan of Rs 1,000 crore for urban rejuvenation along with the rail metro project. “We are in talks with the German Development Bank KfW to raise around Rs. 1,000 crore for the urban rejuvenation project, without a high interest burden, say less than 2%, and a long repayment period.”, NVS Reddy said. Hyderabad Metro Rail The initial negotiations have been completed and it is expected that a detailed project report (DPR) will be ready soon. The funds will be used for urban rejuvenation activities, including the installation of sidewalks, rails, FOB and other services after the construction of the subway, Reddy added. Media had previously reported that talks were also held with the Japan Internatio...