Maharashtra cabinet gives 5.6 hectare land worth Rs 153 crore for Pune metro
The state cabinet on Tuesday cleared the allocation of 5.60 hectares of the government land in Balewadi for the Hinjewadi-Shivajinagar Metro corridor to be executed by the Pune metropolitan region development authority (PMRDA).
The land allotted is worth around Rs 153 crore (market rate) and is located in Mauje-Balewadi. It is to be utilized for financial viability by the bidder, who will execute the Metro project on the Public Private Partnership (PPP) model for the first phase.
PMRDA metropolitan commissioner Kiran Gitte said the land can be utilised by the bidder to generate funds to operate the first phase of the project. “As the project is being executed as per PPP model, the final bidder will be decided this week,” he added.
Three companies have been shortlisted so far, including Tata Realty Siemens, IRB in consortium with Chinese and Malaysian companies and ILFS. The successful bidder will have to bring in 60% funding for the project, including 30% in equity and 70% in debt.