The Union Government sanctioned funds worth Rs 4.1 billion to Pune Metropolitan Regional Development Authority (PMRDA) for the Hinjewadi-Shivajinagar Metro Rail Project (Corridor 3 of Pune Metro) on November 2, 2023.
The funds have been sanctioned as a part of the first tranche of the total viability gap funding (VGF) of Rs 12.25 billion for the project from the Centre.
The project involves development of a 23.3 km long metro rail system connecting Hinjewadi IT Park to Shivajinagar in Pune city in the state of Maharashtra. It is being implemented on design, build, finance, operate and transfer (DBFOT) basis under public-private partnership (PPP) mode as Corridor 3 of the proposed Pune metro and will be entirely elevated, comprising a total of 23 stations.
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