The Government of India (GoI) and European Investment Bank (EIB) on Friday signed the finance contract for the second tranche of Euro 150 million for the Pune Metro Rail project through a virtual signing ceremony. The signing ceremony was held in the presence of H.E. Mr. Francisco Andre, Secretary of State for Foreign Affairs and Cooperation, Portugal and H.E. Mr. Werner Hoyer, President EIB.
- Shri K. Rajaraman, Additional Secretary, Department of Economic Affairs, Ministry of Finance, signed the loan on behalf of Government of India and Mr. Christian Kettel Thomsen, Vice-President, signed the loan on behalf of EIB.
- EIB had approved the total loan of Euro 600 million to fund the Pune Metro Rail project.
- The Finance Contract for the first tranche of Euro 200 million was signed between GoI and EIB on 22.7.2019.
- The project aims to provide an efficient, safe, economic and pollution-free Mass Rapid Transit System in densely populated area in the city of Pune served with heterogeneous traffic options.
- The financing from EIB will help to fund construction and operation of Corridor 1 (North-South) – Pimpri Chinchwad Municipal Corporation (PCMC) to Swargate and Corridor 2 (West-East) –Vanaz (Kothrud) to Ramvadi, totaling about 31.25 kilometers (km) and related purchase of a related fleet of metro cars.
- Further, the project will serve a large population which consisting working class in providing urban mobility for their livelihood.
- The Maharashtra Metro Rail Corporation Ltd. (MAHAMETRO) is the implementing agency for this project.
- Segment erection is in progress along the riverbed to form the viaduct of Pune Metro Reach-2 Vanaz to Civil Court route.
- Also, Pune Metro has started Double Decker Flyover work at Nal Stop.
- Pier cap reinforcement fixing work is in progress for double decker flyover of Reach-2 Vanaz to Civil Court route.
- On Reach-1 PCMC to Range Hill, span formation is in progress by launching Composite Steel Girder at Harris Bridge.
- Segments erection is in progress at Range Hill and construction of piers and pier arms are in progress at Bopodi.
Source: PIB-Press Release | Image Credit (representational): Pune Metro