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
Infrastructure Urban

Allcargo Gati Strengthens Doddaballapura’s Industrial Growth

Doddaballapura, once renowned for its silk sarees, has evolved into a major industrial hub, housing an Apparel Park and diverse manufacturing units producing textiles, paints, and machinery. The region’s strategic location and robust infrastructure have attracted national and international companies, boosting Karnataka’s economy.For the past four years, Allcargo Gati has been a key logistics partner, ensuring efficient distribution of goods across India. With a structured supply chain strategy—65 per ent to the north, 15-20 per cent west, 10-15 per cent east, and 5 per cent south—the c..

Next Story
Infrastructure Transport

Kolkata Metro to Suspend Green Line Services on March 8-9

The Kolkata Metro Railway has announced a complete traffic block on the East West Metro Corridor (Green Line) on March 8 and 9 for testing the Communication-Based Train Control (CBTC) system. Services will also be partially disrupted on the evening of March 7 and the morning of March 10. The Green Line, India’s first underwater metro tunnel and home to the country’s deepest metro shaft, runs from Howrah Maidan to Salt Lake Sector V. This line’s first phase was inaugurated in 2020 by then Railway Minister Piyush Goyal. Additionally, the Kolkata Metro recently introduced a paper ..

Next Story
Infrastructure Urban

India and Nepal Sign MoU to Strengthen WASH Sector Cooperation

India and Nepal signed a Memorandum of Understanding (MoU) on March 3, 2025, to enhance cooperation in the Water, Sanitation, and Hygiene (WASH) sector, including waste management. The signing ceremony took place at Sushma Swaraj Bhawan in New Delhi, attended by India’s Union Minister of Jal Shakti, CR Patil, and Nepal’s Minister of Water Supply, Pradeep Yadav. The agreement aims to foster collaboration between the two countries to improve access to clean drinking water and sanitation. It outlines key areas of cooperation such as capacity-building programs for Nepali personnel, techno..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?