MoU of Rs. 1600 cr for Pune Metro with European Investment Bank
Mumbai, Jan 31, 2020 – European Investment Bank would provide finance of € 600 million (Rs. 4800 crores) to Pune Metro project and an MoU (Memorandum of Understanding) for first instalment of € 200 Million was signed between Pune Metro and European Investment Bank in presence of Chief Minister Uddhav Thackeray. Chief Minister Thackeray stated that Pune Metro project would receive a fillip with cooperation from the Bank and expressed that Bank would support other projects in the future.
Pune Metro managing director Brijesh Dixit and Bank vice-president Andrew Mc-Dowel signed the MoU during a program held at MMRDA office. Thanking the European Investment Bank for its support for Pune Metro project, Chief Minister Thackeray said, as the Pune Metro project would receive a boost with this MoU, Pune Metro can be made functional soon. The project would improve the traffic situation in Pune and adjoining areas which would help development of Pune. The physical progress of the Pune Metro is at present 37 per cent while financial progress is 29.53 per cent. The funding from the Bank would be utilized for underground route as well as work for depot and other works.
The investment by the Bank in various field is positive for development and Chief Minister requested the Bank to also cooperate for Nashik Metro as well as for projects related to environment conservation.
Minister for Urban Development Eknath Shinde said that State Government has started various projects along with Pune Metro and Mumbai Metro. He said that 80 per cent citizens in Mumbai use public transport especially local trains which is why projects like Metro are started which would be completed in time. He said that Metro projects would change the face of cities like Pune and Mumbai.
MMRDA commissioner R A Rajiv, principal secretary to Chief Minister Bhushan Gagrani, principal secretary Vikas Kharge, manager S Shivmathan, S Ramnathan, Ambassador of EU Yugo Astut Maria Shaw Bargab, Sunita Lukov, managing director of European Business and Technology Paul Jensen were present.
Pune Metro in brief
Pune Metro is ambitious urban transport project
Project with 50:50 joint partnership of state and Union Government run by MahaMetro
Project work started on January 23rd, 2017
There are 32.5 Km long route with 30 stations
Total cost is expected to be Rs. 11420 crores
Finance support of Loan from AFD France and European Investment Bank with the help of State and Union Government.
