The Asian Development Bank has agreed to pay the amount in 20 years, and the track will be 8.62 kilometers long.
Indore. The Asian Development Bank (ADB) previously approved loans for the Indore-Bhopal Metro’s elevated corridor and has now approved a $190 million loan to develop the underground corridor, which will create an 8.62-kilometer underground track for the Indore Metro project, including seven state-of-the-art stations. The loan amount, approved in Indian currency, is ₹1,670 crore.
Meanwhile, the Metro Corporation has awarded the contract for laying the underground track for approximately ₹2,200 crore, and the company has already begun work on behalf of the airport.
The Metro project is facing numerous obstacles. Especially regarding the underground track, where the issue beyond Khajrana Square remains unresolved, traders are protesting along the Regal, Rajwada, and beyond tracks. Now, protests have also emerged regarding the Chhota Ganpati Metro Station. Furthermore, any changes to the track would result in an additional cost of 1.5 to 2,000 crore rupees. A decision on who will bear this cost has not yet been reached. Due to this, work has not yet begun on the section from Palasia to MG Road. Meanwhile, preparations are underway to operate the Metro on the elevated corridor from Gandhi Nagar to Radisson.
The project is underway, and a successful trial has already been conducted. The portion from Gandhinagar to the airport will also be underground, which is why the company has begun preparations to build an underground tunnel from the airport side. Meanwhile, ADB has also approved the Indore project.
A loan of $190 million has also been approved for the underground corridor. Officials associated with the metro project say that this loan will be received by Madhya Pradesh Metro Rail Corporation Limited and will be repaid over 20 years or more. The first phase of the Indore Metro, which is 32 kilometers long, comprises 8.62 kilometers.
The underground track is to be built, which has been decided from Khajrana Square via Palasia, MG Road, Rogal, Rajwada, Bada Ganpati to Ramchandra Nagar and Airport. But there is opposition at many places regarding the underground track, due to which the contractor company has not been able to start the work of the underground track from Khajrana Square till now. While almost 6 months have passed since the contract was approved. Regarding the loan of about Rs. 1670 crores approved from the Asian Development Bank, ADB’s Country Director for India, Mio
According to Oka, this metro project is essential due to Indore’s rapid urbanization, congestion, pollution, and large population. The Madhya Pradesh Metro Rail Corporation awarded the contract for the construction of an 8.62-kilometer underground track from the airport to Palasia in Indore to a joint venture of Hindustan Construction Company and Tata Projects for ₹2,191 crore and issued the work order a few months ago. However, the company has yet to begin work on the underground track beyond Khajrana intersection due to a lingering issue. Public representatives, as well as residents and shopkeepers, have protested between Palasia and MG Road and further along the Rajwada to the airport stretch. Meanwhile, the Asian Development Bank is continuously approving loans. It recently approved a $190 million loan for the underground track.
