Pune Metro project set to roll

The Union Budget has allocated Rs 9.9 crore to set the Metro project rolling for Pune and Pimpri-Chinchwad. The amount would set rolling the calculation of the components to be shared by the state government and the civic bodies.

Speaking to Newsline,Rajya Sabha MP Vandana Chavan said the budgetary allocation was for the Vanaz-Ramwadi and Pimpri-Chinchwad-Swargate corridors of Pune Metro. As per the financial model finalised,the Central and state governments are to finance 20 per cent each and the civic bodies will pay 10 per cent of the total outlay (PMC will pay its share for the route coming under it and PCMC will pay for the stretch under its jurisdiction),while 50 per cent is to raised through loans.

The allocation of the first installment would help calculate the other components. During his budget speech for the financial year 2013-14,Baburao Chandere,the Standing Committee chairman of PMC,had said once the Central government’s share was finalised,the civic body would take a decision on its share.

Initially pegged at Rs 7,984 crore,the Pune Metro project has been delayed by five years,which saw an increase of Rs 2,000 crore in the total outlay,taking the final estimate to Rs 10,183 crore.