EIB financing for Pune Metro announced

Pune metro system

Kris Peeters, the Vice President of the European Investment Bank and Shri Brijesh Dixit, Managing Director of Maharastra Metro Rail Corporation announced the EUR 150 million 20-year loan for the construction of Pune metro system.

“The EIB backed Pune metro rail will facilitate, once completed, travel by more than 3 million people living in the city of Pune,” EIB Vice President said.

In January 2020, the EIB has announced it will provide EUR 600 million loan for the construction of metro lines in Pune including the acquisition of 102 metro cars. Since 2019, the bank signed three contracts totalling EUR 500 million for the construction of 31.25 km of metro lines with 30 stations to benefit 159 million passengers per year.

The project is also co-financed by the French Development Agency (AFD) under a EUR 245 million loan agreement signed with Indian Government in 2019.

Pune metro system consists of two over- and underground metro lines. Line 1 (Purple Line) will connect PCMC (the northwestern city limits) with Swargate, one of the busiest areas situated in the city centre. The line will be 17.4 km long with 14 stations, 5 of which underground and 9 elevated. The city has put into operation the first 6 km with 5 stations of the line from PCMC to Phugewadi in 2022.

The 15.7 km Line 2 (Aqua Line) will be entirely elevated and served by 16 stations connecting Vanaz station with Ramwadi in Ambegaon Taluka district. The first 4.3 km with 5 stations from Vanaz to Garware College were also opened last year.

10.3 km is the total length of the opened sections (on both lines). The trains are manufactured by the domestic company Titagarh Wagons’ Italian subsidiary Titagarh Firema under a contract signed in 2019 for the supply of 34 3-car trains (102 coaches). The first three trains are built at Caserta plant, Campania region, Italy, and the remaining 31 trainsets will be produced at Titagarh plant in West Bengal. The standard-gauge trains provide a capacity for 970 passengers and are designed to reach a maximum speed of 80 km/h.

All other sections and stations on lines 1 and 2 are currently under construction and when completed, the lines will help tackle city’s mobility issues, while providing comfortable and convenient transport services in the city, significantly reducing the travel time by 75%.

The city is also currently working on the 23.3-km Line 3 with 23 elevated stations which will provide connection between the Civil Court in Shivajinagar (the city centre) and IT hub in Hinjawadi, in the outskirts of the city. In December 2021, a joint venture between TRIL Urban Transport Private Ltd, a Tata Group Company, and Siemens Project Ventures GmbH that formed a special purpose company called Pune IT City Metro Rail Limited was awarded the contract to build the new line under Public Private Partnership (PPP). The consortium of Siemens AG, Siemens Mobility GmbH, Siemens Limited and Alstom Transport India won the contract for electrical and mechanical system works for the Line 3 of the project by Pune IT City Metro Rail Limited. The project is expected to be completed in 3 years. Siemens will provide project management, turnkey electrification, signaling, communications and depot works (equipment) for this prestigious project. The order size of Siemens

The new line is the first metro project in India developed under the New Metro Rail Policy. The line called Puneri Metro is expected to become operational in 2025.

EIB is actively supporting metro projects in India. Since 2016, the bank has delivered a total financing of EUR 2.45 billion for Agra, Bangalore, Bhopal, Kanpur and Lucknow metro networks, making India the largest beneficiary of EIB transport financing outside Europe. In December 2021, EIB has signed a EUR 250 million loan agreement for two interconnected metro lines in Agra including the procurement of rolling stock. In 2019, the EIB provided a EUR 400 million loan for Bhopal metro and in 2020 the bank announced a EUR 650 million financing for tow lines of Kanpur metro. In 2016, the EIB signed a EUR 450 million agreement for Lucknow covering the construction of a 23 km line and the procurement of 80 metro cars.

“Sustainable mobility and green transition is a key pillar of EU-India strategic partnership. The investment by EIB in the Indian Metro system demonstrates our commitment towards modern, clean and green public transport,” Ugo Astuto, EU Ambassador to India said on 9 February 2023 when EIB provided the loan for Pune metro.

 


Share on:
Facebooktwitterlinkedinmail