Funding for the expansion of the Pune Metro gets approved

05 Sep 2022 CW Team

The European Investment Bank (EIB) has given Maharashtra Metro Rail Corporation (Maha Metro) an in-principle approval for funding the extension of the Pune Metro project. The EIB had showed interest in funding the two expansion projects and would be providing roughly 60% of the project cost. An estimated Rs 45.11 billion will be needed to complete the Pune Metro Phase I project's extension.

The governments of India and Maharashtra share ownership of the corporation Maha Metro 50:50. 10% of the project's finance will come from the federal government, 15% from the state, and the other 60% from the civic organisations in Pune and Pimpri Chinchwad.

While the PCMC-Nigdi extension line will cost Rs 9.11 billion, the 5.464-km Swargate-Katraj line will cost Rs 36 bn. The Maharashtra state government has authorised the comprehensive project report for the 9.77-km extension of Phase 1 of the Pune Metro, and the Centre is still required to give final clearance.

The first phase of the 33.2 km long, Rs 114.2 bn Pune Metro was partially funded by loans of Rs 58 bn from the EIB and France's AFD (Agence Française de Développement).

Also read:
Pune Metro Line 3 to be operational by March 2025
Kochi Metro Rail to prepare DPR for Light Metro projects

Infrastructure Energy

09 Mar 2026

BMW Industries partners with IOCL for PNG supply at Bokaro plant

BMW Industries has entered into a strategic partnership with Indian Oil Corporation (IOCL) for the supply of Piped Natural Gas (PNG), reinforcing its commitment to adopting cleaner and more efficient energy sources for its operations.The agreement was signed at the Eastern Region Pipelines (ERPL) headquarters in Kolkata. The partnership is expected to support the company’s upcoming manufacturing facility in Bokaro by facilitating the use of natural gas as a primary energy source.According to the company, the adoption of PNG will help enhance operational efficiency while also contributing to ..

Bombay Realty Secures RERA for Three ICC Tower in South Mumbai

Bombay Realty, the real estate arm of Bombay Dyeing and part of the Wadia Group, has received Real Estate Regulatory Authority (RERA) certification for Three ICC – Wing A, the latest luxury residential tower at Island City Center in Mumbai’s Dadar.The RERA registration marks a key milestone in the development timeline and reinforces the company’s focus on regulatory transparency, timely project delivery, and high construction standards.Following the success of One ICC and Two ICC, the upcoming Three ICC tower represents the next phase of the Island City Center development. The project ai..

Flender launches India’s largest wind gearbox test rig in Walajabad

Flender has inaugurated a 13.5 MW wind turbine gearbox test rig at its Walajabad facility near Chennai, marking the largest installation of its kind in India. The new facility is expected to strengthen the company’s manufacturing and testing capabilities while supporting the growing demands of the wind power sector in both domestic and global markets.The test rig was inaugurated on March 5 in the presence of Andreas Evertz, Group CEO, Flender; Lars Wiegemann, Vice President Wind Gears, Flender; and Vinod Shetty, CEO, Flender India, along with key industry customers and stakeholders.The insta..