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Hinjewadi-Shivajinagar metro in Pune gets good response from private bidders 

Companies including Tata Reality, Siemens, IRB and IL&FS took part in this process

pune Updated: Jul 08, 2017 17:59 IST
Abhay Khairnar
Abhay Khairnar
Hindustan Times, Pune
metro,ring road,lavasa city
The ministry of finance gave the nod for executing this project and has even agreed to give 20 per cent of the total project cost  as Venture Capital Funding.(HT File Photo)

The Hinjewadi -Shivajinagar metro corridor proposed by Pune Mahanagar Region Development Authority (PMRDA) received good response from private companies and have even qualified the first round. The PMRDA has proposed this corridor on Public Private Partnership (PPP) basis.

PMRDA chief executive officer, Kiran Gitte, said that Tata Reality and Siemens, both companies jointly participated in it. Along with that IRB and IL&FS took part in this process. Now the PMRDA is preparing a bid document for the project.

Gitte said that the PMRDA team visited New Delhi on Thursday and met the officers from ministry of finance to execute the Hinjewadi Shivajinagar corridor on PPP basis. The ministry of finance gave the nod for executing this project and has even agreed to give 20 per cent of the total project cost as Venture Capital Funding.

He said that as this project would be run on PPP basis, the private operator would have 60 per cent stake in it. Ideally the remaining 20 per cent cost would be borne by the state government but by considering the financial conditions of the state, PMRDA would raise the 20 per cent project cost through land bank. These lands would be handed over to private operators.

Gitte said that the PMRDA had already started discussions with land owners at Maan where 50 acres of land is available. Along with that there were many plots which are expected to be in possession of the PMRDA.

The PMRDA is planning to erect the Hinjewadi- Shivajinagar metro corridor on the lines of Hyderabad where they had handed over land to the L&T company which is erecting the project. The PMRDA officials are also visiting Hyderabad city on Saturday to study the PPP model and learn all the aspects, said Gitte.

Different fares for Hinjwadi - Shivajinagar metro corridor

Ticket fares are different for the metro corridors in the city. Two agencies are executing metro project in the city. Vanaz to Ramwadi and Pimpri Chinchwad to Swargate both corridors are going to be executed by Maha metro. The work of Pimpri Chinchwad to Swargate corridor has already started. Maha metro’s corridors are funded by both the central and state. But this Hinjewadi to Shivajinagar corridor would be executed on PPP basis. PMRDA CEO Kiran Gitte accepted that there would be different fare structure for Hinjewadi to Shivajinagar corridor and he supported it.

First Published: Jul 08, 2017 17:58 IST