Maha Metro | Pune Metro project to get funding of Euro 845mn by March 2018
Pune: Funding for the Pune Metro Rail project is expected to be finalised by March 2018. The project is to be co-funded by European Investment Bank and French development bank, AfD and they will together be providing €845 million for the project, Brijesh Dixit, MD, Maha Metro, said. The EIB team will visit in December-end to study the project. EIB will be putting in €600 million while AfD would be financing €245 million, Dixit said. This funding will account for around 58% of the Rs 11,420-crore cost of the 31.25-km Pune Metro project with the remaining coming in the form of equity from the Central government, Maharashtra state government and the civic bodies of Pune and Pimpri Chinchwad, Dixit said. The 50:50 central and state government-owned joint venture, the Pune Metro project has the advantage of being backed by sovereign guarantee of the government of India which enables it to access funds at a lower interest rates and with better terms an...