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Pune metro rail project receives approval

Thursday, 03 Oct 2013

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Pune metro rail project of Pune Municipal Corporation has received approval from the Maharashtra Government.

The project, estimated to cost Rs 8,000 crore, will be developed in two phases. Of the total project cost, 10 per cent of the funds will come from the Pune Municipal Corporation and Pimpri-Chinchwad Municipal Corporation; 20 per cent each from the state and central governments; and the rest 50 per cent will be raised from the private market.

With the approval from the state government, the Corporation will commence actual work on the project in 2014. The company has started the process to set up an SPV 'Pune Mahanagar Metro Rail Corporation' for the purpose.

The first 16.59 km of the Pimpri-Chinchwad and Swargate metro rail route will be part elevated and part underground. Another 14.92 km of the Vanaz to Ramwadi corridor will be elevated. The project is expected to be completed in 2021.

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