Tata Sons plans to invest Rs.9.75 bn in Pune IT City Metro Rail, a special purpose vehicle (SPV) that has won the contract to build, operate, and maintain the city's project connecting Shivaji Nagar and Hinjewadi. The Tatas own 74 per cent of the SPV, with Siemens Project Ventures owning the remainder. The Rs74.2 bn, 23 km project is being financed with a debt-to-equity ratio of 1.8 times, and the entire debt has been tied up, with Tata Sons supporting the proposed equity commitment. The Maharashtra and Union governments each have a 50 per cent stake in the Pune metro rail project.
Contact: Tata Sons
Website: www.tata.com
