VIJAYAWADA: Korea Eximbank has come forward to extend Rs 4,100 crore loan for Visakhapatnam Metro Rail Project.
The officials of the bank met managing director of Amaravati Metro Rail Corporation NP Ramakrishna Reddy and Chief Secretary Anil Chandra Punetha at the Interim Government Complex in Velagapudi. Earlier, the State government had sent the proposals for loan for the Visakhapatnam Metro Rail Project to the Centre and it forwarded the same to Korea Eximbank. Later, the bank expressed its willingness to provide loan for the project.
On the occasion, the Chief Secretary appealed to the South Korean bank officials to expedite the process of loan sanctioning.