+
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

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code