According to PMRDA officials on Saturday, the central government is anticipated to release Rs566 crore by the March end as a section of the first instalment for the construction process, which will fund the third Metro line of the Pune Metropolitan Region Development Authority (PMRDA) between Hinjewadi and Shivajinagar. About 30% of the project’s work has already been completed.
The project to build the third metro line between Hinjewadi and Shivajinagar will cost a total of Rs8,313 crore, including the cost of acquiring land and rehabilitating it.
According to the PMRDA officials, the private concessionaire implementing the project will need to raise 60% of the remaining Rs6,124 crore, with the central government and state governments each contributing 20%. As part of a 20% participation, the Union government is set to provide a total of Rs. 1,224.96 crores.
The first payment is anticipated to arrive by March, according to the authorities. The authority anticipates receiving the final Rs668.16 crore in 2019 for the Metro which will begin operating in April 2025.
“The project will remain on schedule thanks to the release of money from the Union and state governments. As stated in the concession agreement for Metro, this is a portion of the viability deficit money. The state’s portion, worth Rs. 1,036 billion, will be paid out starting in 2019 “officials stated.
Siddharth Shirole, an MLA, has been pursuing up with the relevant parties to ensure that the stretch’s construction is finished by the end of this year.
The concessionaires are prepared with the updated plan for finishing the work by the end of December, and we are anticipating that the PMRDA will execute it in accordance with the PUMTA standards, he added.
