₹2,800 crore World Bank loan for Gurugram Metro likely by July-end

The loan, which constitutes 60% of the project cost, is currently estimated at around ₹2,800 crore and is under advanced consideration following discussions with World Bank officials

The proposal of the Gurugram Metropolitan Rail Limited (GMRL) seeking a loan of around ₹2,800 crore from the World Bank for the second phase of the Gurugram Metro is in its final stages and is likely to be approved by the end of July, a senior GMRL official aware of the matter said.

World Bank team reviewed project in Gurugram, Panchkula; funding tied to TOD norms and last-mile connectivity plans. (HT Archive)

The loan, which constitutes 60% of the project cost, is currently estimated at around ₹2,800 crore and is under advanced consideration following discussions with World Bank officials. A team from the World Bank visited Panchkula last week after earlier holding meetings in Gurugram to review various aspects of the proposal, officials said.

“A team of senior officials from the World Bank had visited Panchkula last week, and prior to that, they had visited Gurugram and held a detailed discussion on different aspects of the project. The World Bank has its own parameters which need to be met. Our discussions were very positive, and it is expected that a meeting of the Department of Economic Affairs will be held in July and this loan will be approved,” the GMRL official said.

Officials said GMRL has completed environmental and social studies and is complying with norms related to transit-orientated development and last-mile connectivity to meet funding requirements. “We have already started making preparations to start the construction on the second phase. We have asked the HSVP to demarcate the metro alignment from Sector 9 to Cyber Hub, where the line terminates,” the official added.

The metro corporation had submitted the loan proposal and tender documents to the World Bank in February. Another senior official said the loan, excluding taxes, currently stands at ₹2,800 crore but may increase if project costs rise.

The Old Gurugram Metro Project spans 28.5 km. The first phase, from Millennium City Centre Metro Station to Sector 9, was tendered in September last year for approximately ₹1,277 crore. The second phase, from Sector 9 to DLF Cyber City, is estimated at around ₹3,500 crore, while the third phase involves a depot in Sector 33 costing about ₹400 crore.

Stations in the second phase will include Sector 7, Sector 4, Sector 5, Railway Station, Ashok Vihar, Sector 3, Bajghera Road, Palam Vihar Extension, Palam Vihar, Sector 23A, Sector 22, Sector 21, and Udyog Vihar Phase One.