EIB to fund 600 million euro for phase-I of Pune Metro

EIB to fund 600 million euro for phase-I of Pune Metro

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Date of Post : 04 July, 2017

Pune: The Centre has nominated the EIB (European Investment Bank) to fund around 600 Million Euros, the estimated cost of which is €845 million for the phase-I of Pune metro rail project even as the implementing agency, Maharashtra Metro Rail Corporation (Maha-Metro), pushes for acquisition of land required to develop the infrastructure for the project.

More Information:

  • Brijesh Dixit, Managing Director of Maha-Metro said,“The ministry of finance of the Union government has nominated EIB to fund 600 million euro for the first phase of Pune metro rail. Various options are being considered to raise the remaining €245 million of the estimated project and the option of French Development Agency (AFD) and KfW of Germany is being explored.”
  • There was no immediate need of money as the funding by the government at the beginning is sufficient for the construction work planned this year, he said.

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