India Clears US$1.36 Billion Jaipur Metro Phase 2

WorldBusiness & Finance
17 May 2026 • 12:00 PM MYT
Migrant Times
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India Clears US$1.36 Billion Jaipur Metro Phase 2

JAKARTA - India’s Union Cabinet approved Jaipur Metro Phase 2 on April 8, clearing a 41 km north–south corridor from Prahladpura to Todi Mod with 36 stations, according to India’s state-owned Press Information Bureau. The approved project cost equals about US$1.36 billion using the RBI reference rate for May 12. 

The line will connect major work, travel and public-service nodes across Jaipur, including Sitapura Industrial Area, VKIA, Jaipur Airport, Tonk Road, SMS Hospital and Stadium, Ambabari, and Vidhyadhar Nagar. The release said the corridor will also link with the operating Phase 1 network through planned interchanges and feeder systems. The government said completion is targeted for September 2031.

Project documents published later by Rajasthan Metro Rail Corporation Limited give a clearer buildout plan. A May 7 market-engagement notice said the route will include 37.872 km of elevated track and 3.128 km underground, with 34 elevated stations and 2 underground stations.

The same notice said Jaipur Metro Phase 2 is intended for Asian Development Bank financing and has been split into 8 civil works contract packages and 12 supply and system packages. Five civil packages and 11 supply and system packages are proposed for ADB funding, according to the notice.

Ridership is one of the government’s main arguments for the project. Jaipur Metro Phase 1 currently carries around 60,000 passengers a day on its 11.64 km east–west route, the Cabinet release said. A May 1–15, 2026 edition of New India Samachar stated, “With the commissioning of Phase 2, the metro network is expected to witness a manifold increase in ridership.”

The Cabinet said funding will combine equity support from the central and Rajasthan governments, subordinate debt and multilateral financing under India’s Metro Rail Policy, 2017. It also said the project cleared inter-ministerial consultation, Network Planning Group review and Public Investment Board appraisal, with an economic internal rate of return above the stated threshold of 14%.

India’s Press Information Bureau said on March 15 that India’s metro network grew from 248 km in 2014 to 1,095 km in 2025, while the number of cities with metro service rose from 5 to 26. Jaipur Phase 2 now moves from Cabinet clearance into financing, procurement and delivery against the September 2031 target.

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