PMRDA receives Rs. 410 cr from the Central Government for the Pune Metro Line 3

Pune Metro achieves 410 Crore as the viability gap funding for the Maan Hinjewadi to Shivanagar line.

Pune metro
Map of Pune metro

PUNE ( Metro Rail News): The Pune Metropolitan Region Development Authority (PMRDA)  has undertaken the development of the 23.203 km long Pune Metro Line 3 Project connecting Maan Hinjawadi with the city centre at Shivajinagar on a Public Private Partnership (PPP) basis.

The State Government had accorded approval to undertake the said Project on Public Private Partnership model vide Government Resolution dated 09/02/2018. Accordingly, 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 said Project. 

The Concession Agreement was signed on 21/09/2019, and the Appointed Date was declared on 25/11/2021, marking the start of construction work. About 45% of the project work is complete. 

Since the Project is proposed on a PPP basis, Viability Gap Funding (VGF) of Rs. 1225 cr was envisaged from the Central Government. After the infusion of 100% equity by the Concessionaire and proportionate disbursement of debt by the banks, the PMRDA has applied to the State Government for disbursement of VGF to the tune of Rs. 410 cr out of the total VGF of Rs. 1225 cr.

The proposal was sent to the Department of Economic Affairs, Ministry of Finance, Government of India. PMRDA Commissioner, Shri Rahul Mahiwal and Chief Engineer, Smt. Rinaj Pathan continuously followed up on the disbursement of the said amount. 

“With the timely receipt of the first tranche from the central government, no other financial difficulties have remained, and the project will progress as per schedule”, Rahul Mahiwal, Commissioner, PMRDA, said. 

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