Pune: The Maharashtra Metro Rail Corporation Limited (Maha Metro) said on Thursday that the project is not facing any financial crunch at present. Around Rs300 crore has been spent on the ongoing work on the two Metro corridors in the city and most of the expenses have been on civil work.
This project received budgetary allocation of Rs 582 crore for the current financial year. The Maha Metro has sought allotment of Rs 750 crore and for the next financial year (2018-19).
According to Maha Metro managing director Brijesh Dixit, the corporation was in talks with two foreign firms for loan and the agreement was expected to be finalized by June. The Union government’s department of economic affairs had posed the Pune Metro project to European Investment Bank and AFD France. The talks with both the institutions are under way.
According to Maha Metro official, the preliminary work pertaining to planning and designing on the Swargate multimodal hub had started. The plan would be executed without dismantling the existing flyovers and grade separator.