Pune: Work on Hinjewadi to Shivajinagar Metro corridor gains momentum. The state government has given approval to offer 13.83 acres in Balewadi. This land will act as a bank for constructing the metro corridor under the public private partnership.
The land will be given to top bidder for 35 years as part of viability gap funding. The firm constructing the corridor will be able to use the same for commercial purposes.
This decision was taken today during the state cabinet meeting. During the meeting it was unanimously agreed to give 13.83 acres of land to top bidder.
Pune metropolitan region development authority (PMRDA)’s executive officer, Kiran Gittee shares that the land will handed over to top bidder. The land will act as a viability gap funding. The bidder will have the authority to make use of land for any commercial purpose.
Additionally Gitte informs that the bidder will develop the plot proportional to the Metro work progress. Once 25 per cent of metro work is finished; the operator can utilise 25 per cent of total land for construction.
The ownership of the plot will continue to be with PMRDA after completion of long-lease contract.
Gitte is happy with state government’s move as it will help in expediting tendering process.
Both the state and central government are not offering funds for carrying out work on the Shivajinagar to Hinjewadi Metro corridor. Instead the whole project will be operated under public private partnership.
Gitte adds that it is good idea to give land instead of subsidiary or grant. PMRDA is giving land in lieu of funds to operator.
The land in turn can be utilised for building metro corridor and operations, shares Gitte.
Tender for the same will be finalised by August 15 avers Gitte. The work on this corridor will be implemented differently as compared to that of Maharashtra Metro Rail Corporation Limited’s (Maha-Metro) two corridors. All works will be done under single tendering and no multiple tender processes to follow for every work.