Pune Metro gets foreign funds | pune news | Hindustan Times
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Pune Metro gets foreign funds

The European Investment Bank has agreed to lend 600 million Euros, the rest may come from other foreign agencies

pune Updated: Jul 04, 2017 14:45 IST
HT Correspondent
Brigesh Dixit, MD of Maharashtra Metro addressing a press conference at Patrakar Sangh in Pune on Monday.
Brigesh Dixit, MD of Maharashtra Metro addressing a press conference at Patrakar Sangh in Pune on Monday.(HT Photo)

The European Investment Bank (EIB) will partly fund the Pune Metro project while some foreign agencies considered by the ministry of finance has also agreed to provide capital.

According to the officials of Maharashtra Metro, the agency responsible for execution of the project, EIB has agreed to lend 600 million Euros while the rest of the amount will come either from French Development Bank (AFD) or German financial agency KfW.

“The Ministry of Finance has already finalised EIB. The rest of the 245 million euros will come from the other agency,” said Maharashtra Metro managing director Brijesh Dixit.

According to Dixit, the Maharashtra Metro has hired a foreign consultant to prepare a report for the underground work to be carried between Budhwar Peth and Swargate with the aim that no inconvenience should be caused to people. “The area from where metro will go underground is one of the most congested. We have asked a foreign consultant to prepare a report to ensure minimum inconvenience will be caused while undertaking the work,” said Dixit .

Work for the first line of Pune Metro from Swargate to Chinchwad has already started while authorities are hoping that the work for second line will begin by next month.

Maha Metro crosses major hurdle, to acquire Agriculture College, Shivaji Nagar godown lands soon

The Maharashtra Metro is likely to cross a major hurdle by getting the land it requires for building interchanging station and a depot at three different places in the city. According to the officials of Maharashtra Metro Rail Corporation, the land from Agriculture College, Shivaji Nagar godown and Vanaz garbage depot will be handed over to the agency in the next two months.

Brijesh Dixit, managing director, Maharashtra Metro Rail Corporation, said his department is in talks with respective departments of the state government and civic body to ensure that the land is handed over to them on time. There has been resistance from Agriculture College administration and Pune Municipal Corporation (PMC) over transfer of land for the metro project.

The Maharashtra Metro officials are hopeful that the state government’s proactive measure will help it acquire the land sooner than expected. “We have already initiated the land acquisition process by initiating correspondence with departments,” said Dixit

The Metro plans include construction of interchanging station for its two lines at government godown at Shivaji Nagar and a depot on Agriculture College land.

According to officials, around 685 trees will be cut for the 31-km two lines of Metro and the firm plans to carry out plantation drive at Parvati and Akurdi by planting 10 trees for every tree cut for the project.

As per the plan, two corridors are being developed by Maha Metro, the state government company. It will cover a total distance of 31 kilometers, a 16-km stretch from Pimpri to Swargate and another from Vanaz to Ramwadi at an estimated cost of Rs 11,420 crores. Recently, the Pune Metropolitan Regional Development Authority (PMRDA) proposed another route on Metro map from Hinjewadi to Shivaji Nagar, which will be of 23 kilometres at an estimated cost of Rs 7,947 crore. All the three lines are expected to be operational by 2021.

The Maharashtra Metro plans to start work on its second route between Vanaz to Ramwadi by August as the fresh tenders invited by the agency will be opened by July 18. The Maharashtra Metro Rail Corporation has invited fresh tenders for Vanaz to Shivaji Nagar court on Vanaz-Ramwadi route of Pune metro as the bids received previously were of higher price. During the scrutiny of the tenders, it was found that the price quoted by contractors for constructing viaduct were of much higher price compared to the price quoted for Swargate to Chinchwad line.