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Lucknow Metro | VP, European Investment Bank along with his team visits the metro project

Lucknow: Mr. Andrew Denis McDowell, Vice-President, European Investment Bank (EIB) along with his six team members today visited Lucknow Metro and praised the speed and quality of the Project which is being implemented under the leadership of Shri Kumar Keshav, Managing Director, LMRC.

The EIB team was immensely impressed with the Lucknow Metro Project and the way it is moving ahead so fast in such a quick time. “We are very excited for this project and feel very proud to be a part of this Metro Project”, said Mr. McDowell. “This is one of our most important projects that we have funded”, the Vice-President added.

Alighting from the Chaudhary Charan Singh Airport this morning, Mr. McDowell along with his team members straightaway visited the Sachivalaya Underground Metro Station site to take a glimpse of the tunnelling activities and the two Tunnel Boring Machines (TBMs) which are in operation these days for the underground section of the project.

Afterwards, the EIB team visited the administrative office of Lucknow Metro where a presentation was given by Shri Kumar Keshav, Managing Director. The Vice-President, EIB and the Managing Director, LMRC signed papers related with disbursement of the second tranche of the EIB loan amount to Lucknow Metro.

The European Investment Bank (EIB) is going to sign an agreement with the Government of India (GoI) tomorrow for disbursing 250 Million Euros (Appox. Rs 17, 52, 50, 00000) to Lucknow Metro as the second tranche of the loan amount for this Metro Project.

Earlier in March, 2016, ­a foreign loan agreement for 450 Million Euros (equivalent to          Rs 3,502 crores) was signed between the Government of India (GoI) and the European Investment Bank (EIB) in Brussels during the visit of the Hon’ble Prime Minister of India to Belgium.

The funds had to be released by the European Investment Bank in two tranches of 200 Million Euros and 250 Million Euros respectively. The first tranche of 200 Million Euros has already been received by LMRC and an agreement for disbursing the second tranche of 250 Million Euros will be signed between the Government of India (GoI) and the European Investment Bank (EIB) tomorrow in New Delhi.

The visiting EIB team comprised Mr. Andrew Denis Mcdowell, Vice-President, Ms. Maria Shaw Barragan, Deputy Director, Global Partners Department, Ms. Angela Marcarino, Head of Division, Mr. Andrew Rosser, Senior Advisor to the Vice-President, Ms. Sunita Lukkhoo, Senior Loan Officer, Operations in Asia and Pacific Division, Mr Richard Willis, Media Officer, Communication Department, Secretariat General and Mr. Donal Cannon, Head of External Office in New Delhi.

Source: LMRC Press Release.

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