Mumbai: Maharashtra cabinet on Wednesday approved the Metro railway project for Pune. The first phase of 15km Wanaz-Ramwadi elevated Metro railway will be constructed at a cost of Rs 2,593 crore. The cabinet also gave in-principle nod to the Sitabardi-Airport-Butibori Nagpur Metro railway project and asked for a detailed project report.

A statement issued by the Chief Minister's office said the Swargate-Pimpri Chinchwad phase of Pune Metro will cost Rs 5,391 crore while the Kothrud-Ramwadi section Rs 2,593 crore.

The second phase will be 44km-long, covering Shivajinagar-Hinjewadi-Deccan-Bundgarden-Swargate-Katraj- Pimpri Chinchwad and Nigdi.

The project will be completed in 5 years, out of which construction will take three years.

A high-powered committee headed by the Chief Secretary has been formed for the project implementation. A special purpose vehicle (spv) of Pune Metro Rail Corporation has been set up and the Pune Municipal Corporation will be the nodal agency. The project will be on built-operate-transfer basis.

The statement said 10 percent of the cost will be borne by the civic body, 20 percent each by state and central governments and the remaining 50 percent would be raised through debt.

(Agencies)

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