The Union Ministry of housing and urban affairs gave its nod to the third metro line in Pune which is proposed to lay between Hinjewadi-Shivajinagar. The Center Government gave its approval and also published the same in Center’s Gazette as per the Metro Act 1978.
The Narendra Modi-led Central Government’s approval was waited after the Maharashtra state Government announced the third metro line as a ‘vital important urban transport project’ in July. Replying to which, the Union ministry gave a green signal to the Pune Metropolitan Region Development Authority (PMRDA) project in September 2018.
The Hinjewadi-Shivajinagar metro line is 23.3km long and is proposed to have 23 stations. This metro line will decongest traffic and will make commutation easier in MIDC i.e. Maharashtra Industrial Development Corporation (MIDC), PMRDA, Pimpri Chinchwad Municipal Corporation and the areas of Pune Municipal Corporation. MahaMetro will be responsible for the management of this third metro line.
The Pune Metropolitan Region Development Authority [PMRDA] has completed the tender process and Tata -Siemens won the bid for the project execution. JV and final clearances are awaited from the State Government to sign an agreement with the PMRDA. After receiving a go-ahead by the Union Government the project is expected to start in October.
This project will incur a cost of Rs. 8,313 crore, and is proposed with the idea to resolve traffic worries faced by more than 2 lakh IT professionals working in Hinjewadi, Pune. Interestingly, this is the pilot project in the country which is implemented under the Metro policy of 2017 with the core purpose to ease the financial burden on the Union Government.
The Central Government allocated Rs.1,200 crores and the State Government will offer Rs.800 crores in the form of land banks. The bidder has to raise the remaining fund by monetizing the land banks. Both the Union and State Government will be accountable for 20% of each project similar to that of the Public-Private Partnership model.