The French Development Agency (AFD) and India’s Department of Economic Affairs signed an agreement for a EUR 245 million loan for Pune metro project.
The total value of the project is USD 1.61 billion (INR 11,420 crores), of which USD 820 million (INR 5831.5 crores) will be covered by loans provided by the European Investment Bank and AFD.
The funds to be received from AFD will be used primarily to fund system packages such as signaling system, power supply, telecom and some civil packages. The physical progress of the project is in excess of 27%.
Pune metro system consists of 2 lines with a total length of 31 km. Line 1 will have 16.6 km and 14 stations, of which five will be underground and 9 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%.