Revised estimate pegs metro at Rs 11,802 crore

Source: timesofindia.indiatimes.com

PUNE: The Pune Metro project will now cost Rs 11, 802 crore, up from Rs 10,183 crore in 2013.

The delay in the execution of the project has resulted in an upward revision of over Rs 1,700 crore in the draft budget for 2015-16 fiscal presented by municipal commissioner Kunal Kumar. “We have forwarded the revised estimates to the state government and an approval from the Public Investment Board and Union cabinet is awaited,” said Kumar, adding that the civic body would start work after the approval.

The process to form a special purpose vehicle will start after the Centre’s nod. “The project cost has been revised according to the August 2014 rates. It includes expenses that would be incurred for land acquisition,” he said.

The Pune and Pimpri Chinchwad municipal corporations will contribute 10% and the state and the centre will contribute 20% each. The rest will be raised from the market. More info

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