The Pune Metropolitan Region Development Authority (PMRDA) has inked a formal concession agreement for the third Pune Metro line (Hinjawadi- Shivajinagar) project. The agreement has been signed with the consortium of TRIL Urban Transport (a subsidiary of Tata Realty and Infrastructure) and Siemens Project Ventures.

The project was announced in October 2018. The project is expected to be operational by 2023, and the Phase-I of eight km, from Hinjewadi to Balewadi, will be completed by 2020.

The project will be completed within three years from the appointed date. PMRDA has started land acquisition in Maan village for the Metro car depot as well as 23 proposed stations. The Metro corridor is being constructed after studying the Metro in Hyderabad and Delhi.

The project is being developed on design, build, finance, operate and transfer (DBFOT) mode with the initial concession period of 35 years. The state-of-the-art 23.3 km Metro corridor will offer commuters an efficient mode of transport, ease of travel, considerable reduction in travel time between Hinjawadi and Shivajinagar, among other benefits. The project implementation will start from February 2020 after the consortium has 100 pe cent land in their possession.

The consortium of 74:26 percent (Tata Realty and Infrastructure; and Siemens Project Ventures) will take a share of the profits for the first 20 years and then part with some share from the 21st year in their 35 year agreement.

In addition to Metro projects, the PMRDA is undertaking other major infrastructure projects, such as Pune-Mumbai Hyperloop and Ring Road, which are important for regional connectivity and overall development of the region.