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Publish Date : 06-Jul-2017

The ambitious Pune Metro Rail project will be carried out with financial support from the European Investment Bank (EIB).

The authorities have planned to secure EURO 600 million from the Luxembourg-based lender to complete the phase one of the Pune Metro Rail project.

The Phase I of the Metro project is likely to entail an overall investment of EURO 845 million.

The Metro project in Pune is being implemented by the Maharashtra Metro Rail Corporation (Maha-Metro).

The Maha-Metro MD Brijesh Dixit revealed, The Union ministry of finance has nominated EIB to fund 600 million euros for the first phase of Pune Metro rail. Various options are being considered to raise the remaining 245 million euro. The options being explored are French Development Bank (AFD) and KFW of Germany.

He added, For the balance 245 million euros, DEA is in talks with AFD and KFW. A decision will be taken soon.

The implementation of the Pune Metro project, which will cover a distance of 31.2km, will involve two corridors of Corridor 1 & Corridor 2. Out of these corridors, the first one covers the route between Pimpri Chinchwad Municipal Corporation (PCMC) and Swargate, while the second corridor will be from Vanaz to Ramwadi.

It is anticipated that the project will be accomplished within December 2021.

The Maha Metro official has disclosed that his company has launched the infrastructure work on the Pune Metro project covering a 10.75km route between PCMC and Rangehill in this April.

Dixit has revealed that the agency has received lofty rates for the work on the Vanaz-Shivajinagar court section during the initial bidding procedure, which forced it re-launch tender process for this job.

The tender process to build metro stations on the PCMC-Rangehill corridor will be floated on 16th of this month, whereas the bidding procedure for the station construction works on the route between Vanaz and Shivajinagar court will be opened soon, according to the MD.

Dixit has revealed that his organization has already finished the land search process for the Metro project involving different authorities and added that Maha Metro expects to take possession of the properties by two months.

The Maha-Metro official added, There is a challenge for us to construct the underground Metro with proposed stations considering the dense locality in the area. The area has maximum footfall so there cannot be changes proposed in the route so a way has to be found to construct the underground route along with the stations.

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