The French Development Bank AFD and the Department of Economic Affairs (DEA) have signed a credit facility agreement to extend 245 million euros amounting to ₹2,000 crore for the Pune Metro rail project. It is being implemented jointly by MahaMetro and the state government at an estimated cost of ₹11,420 crore. An agreement would also be signed between Pune Metro and AFD France shortly, MahaMetro said in an official statement. The fund received from AFD would be used primarily to finance system packages, i.e. signaling, OHE, power supply, telecom, and some civil packages. The agreements were signed by additional secretary, DEA, C S Mohpatra and Regional Director, India & Bangladesh, AFD, Nicolas Fornage. For MahaMetro, the Pune Metro is the second project after Nagpur Metro (130m euros) to be financed by AFD under the Indo-French partnership.
📅Published on:
01 February 2019
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