World Bank-Kerala state sign US$215.1mn loan to finance second phase KSTP

The World Bank and the Indian state of Kerala's Department of Economic Affairs have signed a loan agreement worth US$215.1 million (INR 11.66bn) to finance the second phase of the Kerala State Transport Project (KSTP). In its 2013/2014 budget, Kerala allocated $51.65 million (INR 2.8bn) for the implementation of the second phase of KSTP. In the second phase, about $443.3 million (INR 24.03bn) will be spent to develop 367km of state highways spread over eight corridors built to international standards.
March 19, 2013 Read time: 1 min
The 2332 World Bank and the Indian state of Kerala's Department of Economic Affairs have signed a loan agreement worth US$215.1 million (INR 11.66bn) to finance the second phase of the Kerala State Transport Project (KSTP). In its 2013/2014 budget, Kerala allocated $51.65 million (INR 2.8bn) for the implementation of the second phase of KSTP. In the second phase, about $443.3 million (INR 24.03bn) will be spent to develop 367km of state highways spread over eight corridors built to international standards.

For more information on companies in this article

Related Content

  • Serbian road gets Chinese funding
    November 30, 2012
    The Serbian government has reported that it is planning to sign a loan agreement with China's Exim Bank for new loans worth US$ 1.1 billion for construction of the Corridor 11 motorway. Minister of Finance, Mladan Dinkic, said that the loan will be used for construction of the Belgrade-Ljig and Pojate-Preljina motorway parts. The contract agreement is due to be signed by the end of 2012 or beginning of 2013. Works are expected to start sometime next year.
    Read More
  • Russia's massive road investment continues
    March 23, 2012
    Russia’s road building and upgrading programme is now gathering pace. Russia's Federal Highway Agency plans to bring over 85% of federal roads into conformity with road traffic regulations. The Federal Highway Agency has boosted construction of rural roads by establishing road funds and built over 500km in 2011.
    Read More
  • A new tunnel project for Turkey is a significant move
    December 12, 2012
    The European Bank for Reconstruction and Development (EBRD) is supplying a finance package worth US$150 million for the new Bosphorus crossing project in Turkey. Running under the Bosphorus at Istanbul, the new tunnel will connect both European and Asian sides of the city. The EBRD’s $150 million loan completes $1.4 billion worth of financing required for the Eurasia Tunnel project, being built under the Bosphorus straits. Other components of the $1.4 billion financing package for this PPP project include a
    Read More
  • “Structurally deficient” US bridges need warning signs, says ARTBA
    April 10, 2015
    A US construction sector group wants warning signs to be posted on bridges designated “structurally deficient" and in need of repair by state engineers. More than 61,000 structurally deficient bridges remain in need of significant repair, according to the American Road & Transportation Builders Association (ARTBA), which analysed the US Department of Transport’s National Bridge Inventory database. However, by the end of 2014 there were more than 2,000 fewer structurally deficient structures than in 20
    Read More

Highlighted Content