State govt gives green signal to pune metro rail

Funds will be raised by PMC, PCMC, state and central govts and rest 50% from pvt market The Pune metro rail project received a boost on Monday with the state government’s decision to approve

the project while partly funding it. Ten per cent of the funds will come from the Pune Municipal Corporation (PMC) and Pimpri-Chinchwad Municipal Corporation (PCMC), 20% each from the state

and central governments and the rest 50% will be raised from the private market. The state government has decided against going for public-private partnership as the model followed for the

Mumbai metro rail project has led to recurring delays. Chief minister Prithviraj Chavan said on Monday that they have approved the Pune metro rail project, after some necessary changes made

in the plan at a cabinet meeting. The first 16.59 km of the Pimpri-Chinchwad and Swargate metro rail route will be part elevated and part underground. Another 14.92 km of the Vanaz to

Ramwadi corridor will be developed and will be elevated. The project is estimated to cost Rs10,183 crore and is expected to be completed by 2021.  The state government has decided to name

the project Pune Mahanagar Metro Rail Corporation Ltd. The first phase of the project is expected to be over by 2021 with expenditure of Rs6.960 crore and the second phase is to be completed

in 2021 at a cost of Rs3,224 crore.  PMC officer on special duty (OSD), Pune Metro, Shashikant Limaye said, “After the approval of the state government, the file will go to the Union urban

development minister and later to the Railway ministry for technical work. After that it will be sent to the finance department. The entire process will take three months.” Limaye added,

“During these three months, we will be completing the formation of the company that will have 13 board members including one managing director, three directors who would be commissioners of

both municipal corporation and chief secretary of state government along with stake holders.” PMC is also going to appoint engineers who will help with the technical planning of the metro

project on both routes. The actual commencement of the work is expected to begin after the monsoon next year.