Tata Realty-Siemens secure ₹8,313 cr metro contract

Tata Realty Infrastructure in a joint venture with Siemens has won the bid for the third line of the Pune metro project, entailing an estimated investment worth ₹8,313 crore. The 23 km long line will be developed on a public-private partnership basis under the design-build-finance-operate-transfer mode, said state government sources, claiming that the Pune Metropolitan Region Development Authority, the project developer, will help channelize the 40% viability gap fund from the State government and Centre and the rest of the funds will be raised by the joint venture. The metro line in question will run from the IT hub of Hinjewadi to Shivaji Nagar in central Pune. There will be station every 1 km and the concessions period of the JV will be 35 years and that the project is expected to be completed in three years, they claimed.