EIB signed Pune Metro loan agreement

The European Investment Bank signed the EUR 600 million loan agreement for Pune metro rail project, which has a total value of EUR 1.78 billion. The project was under EIB appraisal since 2018.
This is a new milestone for project’s financing support. This year, India’s Department of Economic Affairs and French Development Agency signed a EUR 245 million loan for the construction of Pune metro system.
The project envisages the construction of two metro lines totaling 31.3 km and 30 stations, as well as purchase of a related fleet of metro cars.
Line 1 will have 16.6 km and 14 stations, of which five will be underground and nine will be elevated. It will link PCMC (Pimpri Chinchwad Municipal Corporation) to Swargate. Line 2, with a length of 14.6 km and 16 stations, will be completely elevated, connecting Vanaz to Ramwadi.
It is estimated that Pune metro will be put into commercial operation in 2021, reducing the travel time within the city by 75%.
In august, Maharashtra Metro Rail Corporation awarded the Indian-based company Titagarh Firema the contract for the supply of 102 aluminiu-body metro cars. This is the first time the aluminium cars will be manufactured in India. 25% of the new cars will be manufactured at company’s plant in Italy, while 75% will be produced and commissioned at Maharashtra metro coach manufacturing plant in Nagpur. Initially, three-car train will be deployed on Pune metro lines, and will subsequently converted into six-car trains following traffic demand.
This March, Maharashtra Metro Rail Corporation awarded Alstom a contract for the supply of Urbalis 400 signalling solution for the two lines.
At the end of 2016, India’s Government has approved the first phase of Pune metro system which includes two lines.

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