+
Pune Metro Rail Project: India signs contract with EIB for second tranche
RAILWAYS & METRO RAIL

Pune Metro Rail Project: India signs contract with EIB for second tranche

The Government of India and the European Investment Bank (EIB) have signed the finance contract for the second phase of the Rs 1,338 crore Pune Metro Rail Project through a virtual signing ceremony.

The EIB had approved a total loan of Rs 5,352 crore to fund the Pune Metro Rail Project. The Rs 1,784-crore finance contract for the first phase was signed between the Government of India and EIB on July 22, 2019.

The project aims to provide an efficient, safe, economic and pollution-free Mass Rapid Transit System in densely populated areas in the city of Pune served with heterogeneous traffic options.

The financing from EIB will aid the funding of the construction and operation of Corridor 1 (North-South)-Pimpri Chinchwad Municipal Corporation (PCMC) to Swargate and Corridor 2 (West-East)-Vanaz (Kothrud) to Ramvadi, a total of around 31.25 km and related purchase of a related fleet of metro cars. Additionally, the project will serve a large population, consisting of the working class, in providing urban mobility for their livelihood. The Maharashtra Metro Rail Corporation Ltd (MMRCL) also known as Maha Metro, is the implementing agency for this project.

The European Investment Bank is the European Union's (EU) investment bank and is owned by the EU Member States. It is one of the largest supranational lenders in the world.

Image Source


Also read: Pune Metro’s Mangalwar Peth Station designed on Tekla software

The Government of India and the European Investment Bank (EIB) have signed the finance contract for the second phase of the Rs 1,338 crore Pune Metro Rail Project through a virtual signing ceremony. The EIB had approved a total loan of Rs 5,352 crore to fund the Pune Metro Rail Project. The Rs 1,784-crore finance contract for the first phase was signed between the Government of India and EIB on July 22, 2019. The project aims to provide an efficient, safe, economic and pollution-free Mass Rapid Transit System in densely populated areas in the city of Pune served with heterogeneous traffic options. The financing from EIB will aid the funding of the construction and operation of Corridor 1 (North-South)-Pimpri Chinchwad Municipal Corporation (PCMC) to Swargate and Corridor 2 (West-East)-Vanaz (Kothrud) to Ramvadi, a total of around 31.25 km and related purchase of a related fleet of metro cars. Additionally, the project will serve a large population, consisting of the working class, in providing urban mobility for their livelihood. The Maharashtra Metro Rail Corporation Ltd (MMRCL) also known as Maha Metro, is the implementing agency for this project. The European Investment Bank is the European Union's (EU) investment bank and is owned by the EU Member States. It is one of the largest supranational lenders in the world. Image SourceAlso read: Pune Metro’s Mangalwar Peth Station designed on Tekla software

Next Story
Real Estate

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Next Story
Real Estate

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Next Story
Real Estate

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?