Phase one of $1.69bn Pune Metro Rail Project approved
Dec 14, 2016 – The Indian cabinet has given the go-ahead to the first phase of the Pune Metro Rail Project in Maharashtra, India.
The INR114.2bn ($1.69bn) project will be carried out by Maharashtra Metro Rail Corporation Limited (MAHA-METRO), a 50/50 joint venture between the government of India and the government of Maharashtra.
The 31.25km project will include two corridors, one covering 16.58km in length from Pimpri Chinchwad Municipal Corporation to Swargate, and the other covering a length of 14.665km from Vanaz to Ramwadi.
According to the Indian government, about 5M people in the Pune Metropolitan Area will benefit from the project, which will reduce the traffic congestion and provide a fast, comfortable, safe, pollution-free and affordable mass transportation system to the city.
Work on the project is expected to take five years to be concluded.
The existing Nagpur Metro Rail Corporation Limited (NMRCL), which is a joint Special Purpose Vehicle (SPV) of Government of India (GoI) and Government of Maharashtra (GoM), will be reconstituted into Maharashtra Metro Rail Corporation Limited for the implementation of all metro projects, including the Pune Metro Rail Project phase1.