Pune: All decks have been cleared for the tabling of the much-pending proposal of Pune Metro rail in the Union Cabinet for the final approval with the Public Investment Board (PIB) of the Union Finance Ministry on Friday giving a go-ahead to it.
“The PIB has recommended the proposal of Pune Metro rail to the Union Cabinet. There has been no conditions attached for it but some suggestions have been made that have been incorporated,” said Municipal Commissioner Kunal Kumar.
The members of PIB said that the project structure was good and raised no queries on it, he said, adding that the proposal would be tabled in the Cabinet after the Union Finance minister and secretary approves the minutes of the meeting. “We along with the Union government officers have prepared the minutes of the meeting so that they can be signed and the Pune Metro proposal can be tabled in the Cabinet as soon as possible,” Kumar said.
The municipal commissioner said he has made a presentation in the PIB citing the need for Metro rail in the city in the inter-modal integration of various steps to improve the traffic and transport system.
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The estimated project cost of the two Metro routes to be implemented at the beginning is Rs 12,298 crore with contribution of 20 per cent each by the state and the Union government, 10 per cent jointly by the Pune Municipal Corporation (PMC) and Pimpri Chinchwad Municipal Corporation (PCMC) and 50 per cent through loan.
Of the contribution of Rs 1,278 crore by local civic bodies, Kumar said, Rs 972 crore is required for land acquisition for implementing the project and if managed through Transfer of Development Rights (TDR), then the actual in cash contribution of PMC and PCMC together would be Rs 317 crore.
The Union Finance ministry had already given a nod to the state government proposal for multilateral assistance of Rs 6,325.50 crore for the first phase of Pune Metro rail project to be taken from the World Bank (WB) and China-based Asian Infrastructure Investments Bank (AIIB).
The project cost is estimated in November last year and the work on the two routes is likely to be completed by 2021-22.
The SPV has planned revenue source mainly from Fare Box, from advertisements, 100 per surcharge increase in Development Charges of commissioning of Metro system, one per cent surcharge on stamp duty registrations, densification of Metro corridor 500 metre on either side by increasing FSI from 1.6 to 4, commercial utilisation of metro stations and depot spaces, parking charges, congestion charges.
Most of the issues related to implementation of Pune Metro rail have been resolved except for the hearing at the National Green Tribunal due on October 27 over the damage to the river for a certain elevated stretch planned along the Mutha riverbed.
The Railway ministry has given its in-principle approval with a condition that the applicable charges need to be deposited with the railways for crossing on the railway land.