Pune: The state government has approved a revised financial plan of ₹2954 crore for the fully underground metro project from Swargate to Katraj, which spans 5.5 kilometers.
The central government's contribution to this project will be in the form of equity shares, as stated previously. With this approval, the Swargate to Katraj metro rail project moves one step closer to realization under the equity share model.
Initially, in May 2022, the state government had approved the construction of the Swargate to Katraj metro project via an elevated route, with an estimated cost of approximately ₹3668 crore.
The central government had approved the financial participation plan based on the Metro Rail Policy 2017, with a grant of ₹300 crore. The detailed project report was submitted to the Ministry of Housing and Urban Affairs for financial and technical approval.
Recently, the central government communicated that its contribution would be in the form of equity shares. In response, the state government's Urban Development Department approved the equity share model for the project. Vijay Choudhary, Joint Secretary of the Urban Development Department, issued the government decision.
Detailed Financial Plan:
Central Government Equity Shares: ₹397.83 crore - 15.50%
State Government Equity Shares: ₹397.83 crore - 15.50%
Central Government Interest-Free Subordinate Loan: ₹115.52 crore - 4.50%
State Government Interest-Free Subordinate Loan: ₹115.52 crore - 4.50%
Institutional Loan Assistance: ₹1,540 crore - 60%
Pune Municipal Corporation Grant for Land Acquisition: ₹181.21 crore