India: EIB welcomes opening of Lucknow metro – one year ahead of schedule
8 March 2019
Lucknow’s first metro, financed by a EUR 450 million (Rs.33 billion) long-term loan from the European Investment Bank, is ready for its first passengers.
The construction of the 23km long new metro line and purchase of a fleet of metro trains was finished one year ahead of schedule. The line is the first part of an expected broader metro network planned for the capital of Uttar Pradesh, the most populous state in India. Once operational the new metro is expected to increase use of public transport from 10% to an estimated 27% in the city of 3 million people. 30% of the trains will be operated and driven by female train operators. In addition, 40% of all the station controllers/train operators will also be females. The project will not only reduce traffic and cut journey times but will make a valuable contribution to lowering emissions.
“Opening a year ahead of schedule, the Lucknow Metro is a success story. We are impressed by the quality of work of our Indian partners and how the project went ahead so fast,” said EIB Vice-President Andrew McDowell, responsible for lending operations in South Asia. “The project is one of the largest commitments of the European Investment Bank in India and the most significant support for sustainable transport outside Europe. The first metro line in Lucknow is a flagship project not only for Uttar Pradesh and India, but also for the EU Bank. It marks a new era in our engagement in the country.”
The Ambassador of the European Union to India, Tomasz Kozlowski, welcomed the news, "I congratulate the citizens of Lucknow and all those who contributed to the building of the Lucknow Metro Project. It is a great achievement. I am happy that the European Investment Bank has also contributed to this success. EIB's growing engagement in India is another confirmation of the EU's determination to successfully implement the EU-India Partnership for sustainable development and modernization."
At the 13th European Union – India summit held in Brussels today, Werner Hoyer, the President of the EIB, announced that the world’s largest multilateral public bank would strengthen engagement to support long-term investment in India. Speaking alongside Indian Prime Minister Narendra Modi, President Werner Hoyer confirmed the European Investment Bank’s firm commitment to supporting long-term investment crucial for environmentally sustainable social and economic development in India and announced the opening of a Regional Representation for South Asia in New Delhi by the end of the year.
The EIB will invest €650 million into the construction of Kanpur’s first city metro line, enabling some 3 million people in the city of Kanpur, India, to benefit from green, safe, fast and affordable public transport. The new metro rail system will reduce commuting hours and unlock new employment and education opportunities in Kanpur, the industrial capital of Uttar Pradesh. This is the second metro rail project supported by the EIB in Uttar Pradesh, following the €450 million investment in the development of a metro rail system in the city of Lucknow.
The EIB will provide EUR 500 million to support the construction of a new 18 station Rapid Transit line in Bangalore and the purchase of 96 train cars for use on the line. This support for investment to expand the second longest urban metro system in the country is the largest ever EIB loan in India and also the largest ever support for sustainable transport outside Europe.