Pune Metro Update: Metro Rail Project In Pune Likely To Get €845 Million Funding By March-End 2018

Pune Metro Update: Metro Rail Project In Pune Likely To Get €845 Million Funding By March-End 2018

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Date of Post: 17 Nov, 2017

Pune: Funding for the Metro Rail project in Pune is likely to be finalised by March 2018. MahaMetro (Maharashtra Metro Rail Corporation Limited), MD, Brijesh Dixit said, the project is to be co-funded by EIB (European Investment Bank) & AFD (Agence Française de Développement) and they will together be providing €845 million for the project.

Funding Of The Project-

  • The EIB team will visit in December-end to study the metro project.
  • Dixit said, while AfD would be financing €245 million, EIB will be putting in €600 million.
  • Dixit said, this funding will account for around 58 percent of the Rs 11,420 crore cost of the 31.25 km long Pune Metro rail project with the remaining coming in the form of equity from the Central government, Maharashtra state government and the civic bodies of Pune & Pimpri Chinchwad.
  • Dixit said,“We do not need the money now but will need it later, so we hope to finalise the agreement by end of March 2018.”

    Image Credit : Pune Metro

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