The union cabinet, chaired by prime minister Narendra Modi, on December 7, 2016, approved the development of Pune Metro Rail Project Phase-1, an official release said.
A population of approximately 50 lakhs, from Pune’s metropolitan area, will be benefited by this metro corridor, the release added. The approved alignments, are expected to provide much-needed connectivity to commuters and would traverse through some of the densest and traffic-congested routes in the Pune Metropolitan Area, the release said.
The project is scheduled to be completed in five years from the date of start of work, as per the detailed project report (DPR).
It will be implemented by the Maharashtra Metro Rail Corporation Limited (MAHA-METRO), which will be a 50:50 jointly owned company of government of India and the Maharashtra government.
The existing Nagpur Metro Rail Corporation Ltd (NMRCL), a joint special purpose vehicle (SPV) of the government of India and Maharashtra government, would also be reconstituted into MAHA-METRO, for implementation of all metro projects including the Pune Metro Rail Project Phase-1 in the state of Maharashtra, outside the Mumbai Metropolitan Region.