Around 96% of the land needed for the 23.3 km Hinjewadi-Shivajinagar Metro corridor has been acquired.
The corridor is being executed by Pune Metropolitan Region Development Authority through the concessionaire, Tata-Siemens.
PMRDA officials said they were waiting for Rs1,224.8 crore from the central government under its share of Viability Gap Funding — under which the government funds a portion of the project. The officials said the project’s VGF stands at Rs2,351 crore, of which the state government would provide Rs1,126.2 crore by way of a land bank. The total cost of the project is Rs 6,124 crore.
“The proposal to sanction the Centre’s VGF share has been forwarded to the Department of Expenditure and is under scrutiny by the empowered committee,” officials said; PMRDA expects to receive the funds this month.
PMRDA officials further said the “appointed date” — the date of commencement of the concession period — will be announced this month. The project is expected to be completed in 40 months from the appointed date, while the concession agreement is for a 35-year period, with an option to extend for a further 25 years.
“Barricading work has begun at various spots along the route in Hinjewadi, Balewadi, Baner and Ganeshkhind Road, while soil-testing, structural designing and work at the 15.5-hectare casting yard has also commenced,” an official said.
Officials in the loop attributed the delay in announcing the appointed date to the delay in land acquisition, as the concessionaire must have 100% of the land in hand before moving ahead with the project.
“With 96% of the land in hand, the acquisition of the rest should be wrapped up soon,” an official said.