The Maharashtra government has given its nod to raise loans for the development of new Pune Metro routes. According to officials, Maha-Metro has been authorised to identify financial agencies and sign loan agreements to meet expenditure requirements.

Funds will be raised for the Vanaz–Chandni Chowk and Ramwadi–Wagholi stretches on the existing Line 2, as well as for the PCMC–Nigdi and Swargate–Katraj extensions on Line 1. The Cabinet has also cleared loan-based financing for the Khadakwasla–Kharadi line via Hadapsar on Line 4, and the Nal Stop–Manikbaug route.

“All these route extensions have Union government approval. With funding in place, execution will move faster,” said Chandrashekhar Tambekar, Spokesperson for Pune Metro.

In addition, the Cabinet approved an expenditure of Rs 6.83 billion for the construction of two new underground stations—Bibvewadi and Balajinagar—on the Swargate–Katraj route. Of this, Rs 2.27 billion will be contributed by Pune Municipal Corporation, Rs 1.16 billion by the state, and Rs 3.41 billion will be raised through loans. The tender process for the stations has already been initiated.

The decision also covers raising funds for Thane Ring Metro and Phase 2 of Nagpur Metro. Officials said the financial clearances will ensure faster progress across these major urban transport projects.

Currently, Pune Metro operates on the Vanaz–Ramwadi and PCMC–Swargate routes, with several extensions in the pipeline. The Khadakwasla–Kharadi corridor has received state approval and awaits clearance from the Union government.

News source: The Indian Express