The Indian Government has entered into a $498.02m (€442.26m) loan pact with the Germany Development Bank – KfW (Kreditanstalt für Wiederaufbau) for the execution of Surat Metro Rail project in the Indian state of Gujarat.

The project’s total cost has been estimated at $1.69bn (€1.5bn), of which KfW is providing $498.02m.

French Development Agency AFD (Agence Française de Développemet) will also co-fund the project.

Covering a distance of 40.35km, the Surat Metro project intends to improve the transport infrastructure of the region.

Separately, Indian Railways identified nearly 1253 railway stations for overhaul under Adarsh Station Scheme.

Of these, 1211 railway stations have been renewed while the remainder are expected to be modernised in Financial Year 2022-23.