The Asian Development Bank (ADB) has pledged Rs15.27bn ($200m) to support the second phase of the Nagpur Metro Rail Project in Maharashtra, India.

Maharashtra Metro Rail Corporation (Maha Metro) signed a memorandum of understanding (MoU) with ADB for the funding.

The 43.8km-long metro rail project includes a total of 32 metro stations.

Expected to be completed in November 2027, the project will benefit one million citizens in and around Nagpur.

The total cost of the project is estimated at Rs67.08bn.

The project is expected to receive a total funding of Rs35.86bn from ADB and the European Investment Bank (EIB), out of which EIB will provide Rs15.27bn and the remaining Rs20.58bn will be provided by ADB.

The Government of India and the Government of Maharashtra will provide the remaining Rs31.23bn on a 50:50 basis.

In a statement posted on social media, Maharashtra Chief Minister Devendra Fadnavis said: “I appreciate ADB for financing this project in Japanese Yen JPY which will benefit #MahaMetro due to lower interest rate.”

The 38.22km Nagpur Metro Phase-I comprises 38 stations and two depots. Operational since March 2019, the route is divided into two corridors, North-South and East-West.

Nagpur Metro Phase-II comprises four extensions of the two Phase I corridors. The extensions include Khapri – MIDC ESR (18.5km), Automotive Square – Kanhan River (13km), Prajapati Nagar – Transport Nagar (5.6km) and Lokmanya Nagar – Hingna (6.7km).

Last month, the Indian government announced a 375km rail network expansion to enhance connectivity in North Maharashtra, Madhya Pradesh, and Uttar Pradesh.

With a total cost of approximately Rs79.27bn ($1.05bn), these projects are expected to be completed within four years.

The projects include the Jalgaon–Manmad fourth line (160km), Bhusawal–Khandwa third and fourth lines (131km), and the Prayagraj (Iradatganj)–Manikpur third line (84km).

The projects are anticipated to promote tourism to religious sites and heritage locations.

In October, India Prime Minister Narendra Modi commissioned the Mumbai Metro’s new Aqua Line, built by Alstom.

This 33.5km underground line is designed to serve over 1.6 million passengers daily, connecting the Bandra Kurla Complex with Aarey JVLR.