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Those commuting between Hinjewadi and Pune city through heavy traffic will have to wait for one-and-a-half years for hassle-free travel as Pune Metro Line 3, connecting Shivajinagar and Hinjewadi, is expected to be completed by March 2025.
The Union government has given a push by disbursing Rs 410 crore as the first instalment of the viability gap funding (VGF) of Rs 1,225 crore.
The Pune Metropolitan Region Development Authority (PMRDA) has undertaken the development of the 23.203-km Pune Metro Line 3 project connecting Maan Hinjawadi with the city centre at Shivajinagar on a public-private partnership at Rs 8,313 crore.
The state government had accorded approval to undertake the said Project on public-private partnership model in 2018.
The consortium of TRIL Urban Transport Pvt Ltd and Siemens Project Ventures GmbH was awarded the project and a special purpose vehicle, Pune IT City Metro Rail Limited, was formed to undertake the project.
The concession agreement was signed in 2019 and the appointed date was declared in 2021, marking the start of construction work. “About 45 per cent of the project work is complete. It is expected to be completed by March 2025,” said a PMRDA official.
“With the timely receipt of the first tranche from the central government, no other financial difficulties remain, and the project will progress as per schedule,” said Rahul Mahiwal, metropolitan commissioner of the PMRDA.
Since the project is proposed on a PPP basis, viability gap funding (VGF) of Rs 1,225 crore was expected from the Centre. After the infusion of 100 per cent equity by the concessionaire and proportionate disbursement of debt by the banks, the PMRDA applied to the state government for the allocation Rs 410 crore out of the total VGF of Rs 1,225 crore.
