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Korea Exim Bank to offer Rs 4,100 cr loan for Visakhapatnam Metro Project


Korea Exim Bank has come forward to extend a Rs 4,100 crore loan for Visakhapatnam Metro Rail project.

A team of officials from Korea Exim Bank on Wednesday called on Andhra Pradesh Chief Secretary A.C. Punetha here and discussed the loan proposal and related issues.

The state government had earlier sent a proposal in this regard to the Central government, which in turn forwarded it to Korea Exim Bank. Following this, the Bank deputed a team to Amaravati to hold talks with the state government.

The Chief Secretary urged the delegation to ensure that the loan is made available in time to take up the project.

Punetha said Visakhapatnam Metro was a prestigious project and the government was keen to execute it expeditiously.

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