Mumbai: The Maharashtra Cabinet on Wednesday approved the Pimpri Chinchwad-Nigdi elevated Metro corridor I with the proposed investment of Rs 946.73 crore. The state government’s outgo will be Rs 170.3 crore comprising equity worth Rs 79.4 crore and Rs 90.63 crore towards debt repayment.
The proposed corridor will be 4.41 km with three stations. The project involves development of internodal integration, stations, a pedestrian bridge, system and tracks, depot and parking. The project will be implemented by the Maharashtra Metro Rail Corporation which is a 50:50 jointly owned company of Government of India and Government of Maharashtra.
The Centre will contribute 10% equity in the project and also provide loan for the proposed corridor.
The project is expected to be complete in 2023 with daily commuters of 4.95 lakh.
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The standing committee of the Pimpri Chinchwad Municipal Corporation had granted its go ahead in December 2018. Thereafter, the state government in February 2019 had given approval for the extension of the metro route in Pune up to Nigdi. Thereafter, the Centre was to clear the detailed project report prepared by the Maharashtra Metro Rail Corporation. The Cabinet gave its clearance after the Centre’s green signal.
