Mumbai: The Maharashtra Government on Monday accorded revised approval for the ambitious Pune Metro project. The capital expenditure is expected to be around Rs.10,183 Crore and the targeted year of completion is 2021.
Approval has been granted for both phases of the Pune Metro at the weekly Cabinet meeting presided over by Chief Minister Prithviraj Chavan at the Sahyadri Guest House at Malabar Hill here.
For execution of the project, a special purpose vehicle (SPV) called Pune Mahanagar Metro Rail Corporation Ltd (PMMRCL) would be formed.
Phase-I would cover from Pimpri-Chinchwad to Swargate – a distance of 16.59 kms – and would be partially elevated and partially underground.
Phase-II would cover Vanaz to Ramwadi – a distance of 14.92 kms – and this is fully elevated.
The Phase-I would cost around Rs 6,960 crore, Phase-II would cost Rs 3,223 crore.
Both phases would be taken up simultaneously and is expected to be completed by 2021.
As far as the investment is concerned, the Pune Municipal Corporation (PMC) and the Pimpri-Chinchwad Municipal Corporation (PCMC) would chip in with 10 per cent each of the project cost, the Maharashtra Government would invest 20 per cent and 20 per cent would come from the Centre. Rest 50 per cent would be the loan component.
The Maharashtra Government is in correspondence with the Centre and the Ministry of Railways – and the revised approval would be sent for receiving the 20 per cent share of the Centre towards the project to the SPV.