Hingna, Nagpur

The European Investment Bank (EIB) has approved a €240 million loan to extend the Nagpur metro network, part of a larger €289.5 million financing for sustainable metro growth in India. This investment is expected to reduce transport-related carbon emissions by approximately 22% in Nagpur and increase daily ridership to around 190,000 passengers by 2041.

The Maharashtra Cabinet has approved the 'New Nagpur' project, which includes the development of an International Business and Finance Centre (IBFC) and the construction of an outer ring road with traffic terminals. The IBFC will be developed on approximately 692.06 hectares of land in Hingna , and inr 6500 crore budget.

The Nagpur Metropolitan Region Development Authority (NMRDA) is acquiring approximately 1,710 acres of land on the outskirts of Nagpur to establish an International Business and Finance Centre (IBFC) under the New Nagpur project. Modelled after Mumbai's Bandra Kurla Complex (BKC) and Gujarat's GIFT City, the project aims to transform Nagpur into a major commercial hub.