Pune (PUNE): With the approval of the Pune Metro Rail Project on the anvil by the Centre, Municipal Commissioner Mahesh Pathak has proposed a provision of Rs 25 crore in the 2014-15 budget.
The State sent the Pune Metro Rail project proposal to the Centre in December seeking its final approval and also initiated the process of forming a Special Purpose Vehicle (SPV) to execute the project.
As an initial expenditure to kick-off the project, Pune Municipal Corporation (PMC) administration has proposed to earmark Rs 25 crore for 2014-15 fiscal.
Of the total cost of Rs 10,183 crore, the State and the Centre will be funding 20 per cent each while the PMC and the Pimpri-Chinchwad Municipal Corporation (PCMC) will bear 5 per cent each. The remaining 50 per cent of the fund will be raised through public-private partnership.
Pathak said that the provision of Rs 25 crore has been made considering the execution of the project to start this year.
“The allocation of Rs 25 crore is the amount to be spent by the PMC from its share of five per cent” he informed.
Pune metro rail has the two corridors-one from Vanaz to Ramwadi and the second is from Pimpri-Chinchwad to Swargate. The State approved the project in October last year before sending it to Centre,” Pathak said.