Pune, India (Urban Transport News): The Maharashtra Government cabinet on Wednesday approved the proposal to lease out 4.75 hectares of land in Balewadi to the consortium of Tata and Siemens for commercial use for 35 years as per the agreement signed between the Pune Metropolitan Region Development Authority (PMRDA) and the private firm.
“The metro rail project from Hinjewadi to Shivajinagar is being developed by Tata-Siemens. In an agreement signed with PMRDA, it had laid the condition of getting five hectares of land for commercial use. It has now been provided in Balewadi,” said a PMRDA officer adding “Almost 95 percent of the land for the project has been acquired and we are hopeful to see the actual work on the project begin soon.”
With this approval, it has been hoped that the actual work of the ambitious metro rail route from Hinjewadi to Shivajinagar is likely to start anytime soon. According to PMRDA, over 90 percent of the land for Phase 3 of the Pune Metro Rail project has been acquired for the proposed 23.3 km long corridor between Shivajinagar and Hinjewadi.
In 2018, PMRDA signed a contract with a consortium of TRIL Urban Transport Private Limited (a subsidiary of Tata Realty and Infrastructure Limited) and Siemens Project Ventures GmbH (a subsidiary of Siemens Financial Services)to develop the metro corridor from Hinjewadi to Shivajinagar. However, the private firm had stated that it would begin work only after getting 90 percent of the land in possession.
The project is being executed on the design, build, finance, operate and transfer (DBFOT) model, with an initial concession period of 35 years by Tata - Siemens JV...