JMRC Shifts Funding Gears for Jaipur Metro Line 2 Expansion

Jaipur Metro Rail Corporation (JMRC) has finalized the engineering, procurement, and construction (EPC) model for the development of Jaipur Metro Line 2, which will run from Sitapura to Vidyadhar Nagar.

To finance this project, the state government is seeking soft loans from institutions such as the Japan International Cooperation Agency (JICA), with both the state and central governments contributing 40 percent of the total cost.

Currently, the state government is in the final stages of converting JMRC into a joint venture with the Central government, which will create a more sustainable funding structure. Under this arrangement, both the state and central governments will each fund 20 percent of the construction cost, while the remaining 60 percent will be covered by soft loans.

This funding model differs from that used for Jaipur Metro Line 1, which was entirely state-funded, and the second phase (Chandpole to Badi Chaupar), which was financed through a Rs 969 crore loan from the Asian Development Bank (ADB). The joint venture model with the Union government is expected to facilitate easier access to international funding for JMRC.

News by Rahul Yelligetti.