The government of Maharashtra has approved the revised financial plan for the Swargate-Katraj metro rail project. The project is now likely to be developed at an estimated cost of Rs 29.54 billion. Besides, the central government is likely to participate via the equity share model. The project will be implemented by Maharashtra Metro Rail Corporation Limited (Maha-Metro).
The financial plan includes Rs 3 billion subsidy from the central government and Rs 0.97 billion share from the state government. Both central and state governments would provide interest-free loans of Rs 1.15 billion each for 50 per cent of the central government tax, the state government would provide Rs 2.06 billion state government taxes and duties.
Additionally, the Pune Municipal Corporation will provide Rs 1.81 billion for land acquisition, rehabilitation, and interest during construction.
The Swargate-Katraj project involves extension of corridor 1 (Pimpri-Chinchwad-Swargate) of the Pune metro rail project – phase I from Swargate to Katraj. The 5.46 km long metro route will have three underground stations viz. Gultekdi Market Yard, Saibabanagar and Katraj and will be developed at an estimated cost of Rs 29.54 billion.