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  1. Canadian pension funds keen to invest in Pune infrastructure

Canadian pension funds keen to invest in Pune infrastructure

Around Rs 85,000 crore is needed for upgrade and new infrastructure in the city

By: | Pune | Updated: August 10, 2018 6:20 AM
Canadian pension funds, Pune infrastructure, Pune Municipal Corporation,  Pune Metro project, PMRDA The Rs 11,400-crore Pune Metro project is being executed with investments from European Investment Bank and French development band AFD totally to the tune of 850 million euro.

Canadian pension funds are interested in funding big infrastructure projects in Pune. The international airport and the ring road are among projects they are interested in, Saurabh Rao, commissioner of the Pune Municipal Corporation (PMC), said. “We are talking to the funds and discussion are at an early stage.” The proposed international airport would need investments of around Rs 15,000 crore, while the ring road would require around Rs 4,000 crore, Rao said. Around Rs 85,000 crore of investment is needed for upgrade and creating new infrastructure in the city.

The Rs 11,400-crore Pune Metro project is being executed with investments from European Investment Bank and French development band AFD totally to the tune of 850 million euro. The proposed airport is coming up in Purandar taluka. The Maharashtra government approved Rs 3,513 crore for acquisition of land. Around 2,832 acre is to be acquired for the airport complex. To be called the Chhatrapati Sambhajiraje International Airport, it is to be built on a PPP mode.

The Pune Metropolitan Region Development Authority (PMRDA) is building the outer ring road, while the Pune Municipal Corporation is building the high capacity mass transit route or the inner ring road. PMRDA commissioner and CEO Kiran Gitte is talking to the NHAI for sanctioning of Rs 2,468 crore for the first phase of the ring road. The PMRDA plans to start work on 32 km while its has already acquired 17 km. The PMRDA will build service roads with its own money. The ring road is expected to help de-congest roads in the city as heavy vehicles can ply via the ring road to bypass the city instead of entering it.

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