<p>In a major breather for the five million people of Pune, the Maharashtra government has given the green signal for the state's second Metro rail project after Mumbai here, a top official said.<br /><br /></p>.<p>"In the first phase, it will connect Ramwadi-Wanaz on an elevated track at a cost of Rs.2,593 crore," the official said after a late-night cabinet meeting Wednesday.<br />Thereafter, the second phase, around 44 km long, and costing Rs.5,391 crore will be taken up to connect Shivaji Nagar-Hinjewadi-Deccan-Bundgarden-Swargate-Katraj-Pimpri & Chinchwad-Nigdi, which are largely industrial areas.<br /><br />The entire project is expected to be completed within five years, including three years for the construction alone.<br /><br />The state has approved setting up of the Pune Metro Rail Corporation (PMRC), a special purpose vehicle (SPV) for the mega-project. <br /><br />This is the biggest single project taken up in the state's academic and culture capital, around 250 km from Mumbai.<br /><br />The Pune Municipal Corporation (PMC) has been appointed the nodal agency for implementing the BOT (build-operate-transfer) project till the SPV is set up.<br />The PMC had submitted the proposal to the state government last year for approval after getting a detailed project report from Delhi Metro Rail Corporation (DMRC), which had carried out a study in 2007.<br /><br />Accordingly, the state and central governments will each contribute 20 percent towards the project, 10 percent from PMC and the remaining 50 percent through debt-equity.<br /><br />The Pune Metro Rail is considered a political victory of sorts for the Sharad Pawar-led Nationalist Congress Party in its bastion, the western Maharashtra region.<br />The state government also gave an in-principle approval to a proposal for a third metro railway in the state to come up in Nagpur, the alternative capital.<br /><br />The DMRC will carry out a detailed technical-feasibility study and submit its report to the state government by August 2012, after which a final decision will be taken.<br /></p>
<p>In a major breather for the five million people of Pune, the Maharashtra government has given the green signal for the state's second Metro rail project after Mumbai here, a top official said.<br /><br /></p>.<p>"In the first phase, it will connect Ramwadi-Wanaz on an elevated track at a cost of Rs.2,593 crore," the official said after a late-night cabinet meeting Wednesday.<br />Thereafter, the second phase, around 44 km long, and costing Rs.5,391 crore will be taken up to connect Shivaji Nagar-Hinjewadi-Deccan-Bundgarden-Swargate-Katraj-Pimpri & Chinchwad-Nigdi, which are largely industrial areas.<br /><br />The entire project is expected to be completed within five years, including three years for the construction alone.<br /><br />The state has approved setting up of the Pune Metro Rail Corporation (PMRC), a special purpose vehicle (SPV) for the mega-project. <br /><br />This is the biggest single project taken up in the state's academic and culture capital, around 250 km from Mumbai.<br /><br />The Pune Municipal Corporation (PMC) has been appointed the nodal agency for implementing the BOT (build-operate-transfer) project till the SPV is set up.<br />The PMC had submitted the proposal to the state government last year for approval after getting a detailed project report from Delhi Metro Rail Corporation (DMRC), which had carried out a study in 2007.<br /><br />Accordingly, the state and central governments will each contribute 20 percent towards the project, 10 percent from PMC and the remaining 50 percent through debt-equity.<br /><br />The Pune Metro Rail is considered a political victory of sorts for the Sharad Pawar-led Nationalist Congress Party in its bastion, the western Maharashtra region.<br />The state government also gave an in-principle approval to a proposal for a third metro railway in the state to come up in Nagpur, the alternative capital.<br /><br />The DMRC will carry out a detailed technical-feasibility study and submit its report to the state government by August 2012, after which a final decision will be taken.<br /></p>