The Maharashtra government has approved the revised financial plan of ₹2,954 crore for the fully underground metro line from Swargate to Katraj, Pune MP Murlidhar Mohol informed on Friday. "This approval will speed up the work on this metro stretch," he wrote on X (formerly Twitter).
Spanning 5.464 km, the Swargate to Katraj stretch will include three stations: Gultekdi Market Yard, Saibaba Nagar, and Katraj. This extension will benefit residents of Padmavati, Gultekdi, Market Yard, Dhankawadi, Bibwewadi, Balaji Nagar, Sainath Nagar, Katraj, and Ambegaon.
Meanwhile, the Centre has decided to participate in the project through an equity shares model rather than providing a grant, stated Shravan Hardikar, Managing Director, Maha-Metro. He said, “Two years ago, we planned and submitted a grant model for financing the Swargate to Katraj underground extension project. However, the central government has now opted for an equity model. We sent the new equity finance proposal to the state government, which has approved it. The state government will now forward it to the Centre."
"In the grant model, ownership could change, but with the equity model, the special purpose vehicle (SPV), which is Maha-Metro, will retain ownership," Hardikar added.
