PMRDA invites bids for Rs.8,000 cr metro

The Pune Metropolitan Region Development Authority (PMRDA) has recently invited financial bids from players for building the third Metro line for Pune at an investment of Rs.8,000 crore. The central government recently approved the Hinjewadi-Shivaji Nagar Metro project for which three companies have qualified to participate in the Metro tender and they have to come up with their final offers. Tata Realty-Siemens, ILFS and IRB are the companies that will be competing for bagging the project to be executed on the 23.3-km corridor with 23 stations on the basis of PPP model. The winning bidder will be building, operating and maintaining the Metro for 35 years, CEO and metropolitan commissioner, PMRDA, Kiran Gitte, said. The private players will bear 60% of the project cost while the remaining contribution will come from the Central government, state government and the PMRDA. The Centre has already approved Rs.1,300 crore viability gap funding for the project and the Maharashtra government is pitching in Rs.812 crore.