Pune metro cost rises by Rs 2000 crore
Pune – The cost of two corridors of Pune metro has been revised and is increased by over Rs 2000 crore. It is because the Pune Municipal Corporation (PMC) delayed in approving this metro project in city.
The Pune metro rail project will have two phases with two corridors each. Phase I corridors are Pimpri-Chinchwad-Swargate and Vanaz-Ramwadi. Phase II corridors are ASI- Hinjawadi, and Deccan Gymkhana-Bund Garden.
The Delhi Metro Rail Corporation (DMRC) estimated the cost of these two corridors at Rs 7,984 crore in 2009 and now the cost has been revised to Rs 10,183 crore. Minimum fare has been increased from Rs 8 to Rs 13 while maximum fare has been increased from Rs 27 to Rs 45 for travelling more than 30 kms.
Now after revision, these two corridors of Phase I will be completed by 2018-19. Corridor second will be completed by March 2018 and corridor first will be completed by 2019. It is assumed that if the Pune metro rail project begins in 2014-15, it would again lead to another revision of fare with increased time of completion.
The proposal of cost revision by civic administration was collectively approved by PMC standing committee members. This proposal will further be presented to Maharashtra government for final approval.
DMRC identified various sources of revenue for metro in Pune city. These include fare box collections, incomes from property development, advertising and parking. The individual cost estimated by DMRC for each corridor is Rs 5,391 crore (Pimpri-Chinchwad-Swargate) and Rs 2,593 crore (Vanaz-Ramwadi). After revision, the cost of these corridors has been increased to Rs 6,960 crore and Rs 3,223 crore respectively.
As per civic administration, in 2009 the estimations were done according to the prevailing rates of construction material. And the same is done currently with factors in an increase of 7.5 percent per annum until the completion of the project.
The total revised cost of Rs 2036 crore will be beard by State government, Central government, Pune municipal corporation, Pimpri-Chinchwad municipal corporation and left over by taking loan. State and central governments will bear 20 percent cost of each, 10 percent jointly by both civic bodies and rest 50 percent through bank.
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Image courtesy of David Castillo Dominici at FreeDigitalPhotos.net
Delhi Metro Rail Corporation, DMRC, Maharashtra government, Pimpri-Chinchwad Municipal Corporation, PMC, Pune, Pune Metro, Pune metro project, Pune metro rail project, Pune Municipal Corporation
[...] Pune metro cost rises by Rs 2000 crore [...]
[...] Pune metro cost rises by Rs 2000 crore [...]
[...] Pune metro cost rises by Rs 2000 crore [...]