Union Cabinet approves Pune Metro Rail Project Phase - 1

| Updated: Dec 08, 2016 03:12 IST

New Delhi [India], Dec 7 (ANI): The Union Cabinet, chaired by Prime Minister Narendra Modi on Wednesday approved the development of Pune Metro Rail Project Phase - 1. The Pune Metro Rail Corridor will be covering a length of 31.254 km comprising with two corridors i.e. Corridor-1 [Pimpri Chinchwad Municipal Corporation (PCMC) to Swargate] covering length of 16.589 km (11.57 km elevated and 5.019 km underground) and Corriodor-2 (Vanaz to Ramwadi) covering 14.665 km (fully elevated). The total completion cost of the metro rail corridor will be Rs.11,420 crore. The population of approximately 50 lakh of Pune Metropolitan Area will be benefitted through this metro corridor. The project is scheduled to be completed in five years from the date of start of work as per the Detailed Project Report (DPR). The approved alignments are expected to provide the much needed connectivity to the commuters and would traverse through some of the densest and traffic congested routes in the Pune Metropolitan Area. It will considerably reduce the traffic congestion and will bring in fast, comfortable, safe, pollution-free and affordable mass transportation system in the city, which in turn will contribute to further development and prosperity of the area. Development and prosperity of Pune Metropolitan Area will also contribute to the prosperity and development of the nation. The Project will be implemented by Maharashtra Metro Rail Corporation Limited (MAHA-METRO), which will be a 50:50 jointly owned company of Government of India and Government of Maharashtra. The project will be covered under the legal framework of the Metro Railways (Construction of Works) Act, 1978; the Metro Railways (Operation and Maintenance) Act, 2002; and the Railways Act, 1989, as amended from time to time. The existing Nagpur Metro Rail Corporation Limited (NMRCL) which is a joint Special Purpose Vehicle (SPV) of Government of India (GoI) and Government of Maharashtra (GoM), would be reconstituted into Maharashtra Metro Rail Corporation Limited (MAHA-METRO) for implementation of all metro projects including Pune Metro Rail Project Phase-1 in the State of Maharashtra outside Mumbai Metropolitan Region. The project will benefit from experience and learnings from other Metro Rail projects in Delhi, Bengaluru, Chennai, Kochi, Nagpur etc. (ANI)
iocl