Pune Metro’s Line 3, which connects Shivajinagar and Hinjewadi, is expected to be completed by March 2025, as per an Indian Express report.
The project has seen push from the Central Government which has disbursed Rs 410 crore as the first installment of the viability gap funding (VGF) of Rs 1,225 crore.
The work on the 23.203-kilometre Pune Metro Line3 has been undertaken by the Pune Metropolitan Region Development Authority (PMRDA). It has taken up the work on the line connecting Maan Hinjawadi with the city centre at Shivajinagar on a public-private partnership at Rs 8,313 crore.
The project was awarded to the consortium of TRIL Urban Transport Pvt Ltd and Siemens Project Ventures GmbH, and a special purpose vehicle, Pune IT City Metro Rail Limited, was formed to undertake the project.
The year 2019 saw the signing of the concession agreement and the appointed date for starting the construction work was declared in 2021. “About 45 per cent of the project work is complete. It is expected to be completed by March 2025,” a PMRDA official said.
Project’s progress
The metropolitan commissioner of the PMRDA Rahul Mahiwal showed some optimism for the completion of the project. “With the timely receipt of the first tranche from the central government, no other financial difficulties remain, and the project will progress as per schedule,” said Rahul Mahiwal, metropolitan commissioner of the PMRDA.
As the project is structured as a Public-Private Partnership (PPP), it initially anticipated receiving Rs 1,225 crore in Viability Gap Funding (VGF) from the Central government. Subsequently, following the full equity injection by the concessionaire and the proportional distribution of debt by banks, the PMRDA submitted a request to the state government for an allocation of Rs 410 crore from the total VGF amount of Rs 1,225 crore.
