March 17, 2018 5:31:29 am
The three shortlisted private companies that are likely to carry out the construction of the metro line between Hinjewadi and Shivajinagar will need to submit the proposed final project reports by April 27. The announcement was made by the Pune Metropolitan Regional Development Authority (PMRDA), which is in-charge of constructing the third metro line measuring 23.3 km. Approval for setting up the metro line along the route was given by the central government last week, after which tenders had been floated. Tata Realty Siemens, ILFS and IRB were the three companies shortlisted, as per the guidelines of the Centre.
The final proposal with clear mention of financial break-up is to be sent within the stipulated time. The estimated cost of the project, to be executed under the Public Private Partnership (PPP) model, is Rs 8,000 crore. Of this, the Centre, state and the PMRDA are expected to share 40 per cent. The remaining cost is to be borne by the private entity.
The project is important to address the traffic woes of the residents, particularly the over one lakh IT professionals working at the Rajiv Gandhi Infotech Park in Hinjewadi. From the proposals received, the company will have to build, operate and maintain the metro for 35 years, Kiran Gitte, the CEO and Metropolitan Commissioner, PMRDA, said.
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.