|The Union government has approved the 23-km third Metro rail corridor in Pune under a Public Private Partnership (PPP) model.|
The two other Metro lines, work on which is under way, are being financed through the Engineering Procurement Contract method, where funding commitments are ensured before work begins.
Minister Girish Bapat told reporters after the weekly State Cabinet meeting, “We have got in-principle approval for the PPP model for the 23.5-km corridor from Shivajinagar to Hinjewadi from the Union government.”
Mr. Bapat said the ₹8,313-crore segment of the Metro would cater to over two lakh commuters a day. “The share of the Union government in the viability gap funding is expected to be ₹1,137 crore, while the State will provide ₹1,812 crore,” he said.
Pune Metropolitan Region Development Authority chief Kiran Gitte, when asked about the difficulty in attracting private investment for PPP projects, said, “The State and Central government will provide viability gap funding for the project.” He said the corridor was certified as viable by IIT-Bombay.
Mr. Bapat said around 25 hectares land has to be acquired for a car shed, which will be completed by 2021 or early 2022. The corridor will have 23 stations, and reduce traffic flow in Ganeshkhind Road, Aundh, Baner, the highway near Balewadi, Wakad, Hinjewadi and other areas.