Metro rail projects worth Rs 30,765 crore have been approved. (Representative/File photo)
The approval for the Thane and Pune metro projects comes months ahead of the Maharashtra assembly elections, the date of which is yet to be announced
The Union Cabinet on Friday approved three metro rail projects worth Rs 30,765 crore in Karnataka and Maharashtra.
The Cabinet has approved two corridors in the third phase of the Bengaluru Metro Rail Project, worth Rs 15,611 crore, to be operational by 2029. It will span 9 stations at Hosahalli and Kadabagere.
The third phase of the Bangalore Metro Rail Project marks a major step forward in infrastructure development in the city. The statement said the third phase of the project is a major expansion of the city's metro rail network.
The third phase will see the addition of approximately 44.65 kilometers of new metro lines connecting the previously underserved areas of western Bengaluru.
The cabinet also approved the Swargate-Katraj metro line extension of the existing PCMC-Swargate metro line under the Pune Metro Rail Phase-I project at a total cost of Rs 12,200 crore, the government said in a statement. The project will connect famous areas such as Naupada, Wagle Estate, Dongripada, Hiranandani Estate, Kolshet, Saket and others. 22 stations.
The statement also said that the Union Cabinet approved the Thane Integrated Circular Metro Rail Plan Corridor. The 29-km-long corridor will stretch along the western periphery of Thane city and have 22 stations.
The network is surrounded by the Ulhas River on one side and the Sanjay Gandhi National Park on the other, the report said.
This will provide sustainable and efficient transport, enabling cities to realize their economic potential and easing traffic congestion. The plan is also expected to help reduce greenhouse gas emissions, the statement said.
“The estimated cost of the project is Rs 12,200.1 crore and is funded equally by the Government of India and the Government of Maharashtra, with partial funding provided by bilateral agencies,” it said.
“Funds will also be raised through innovative financing methods such as the sale of station naming and corporate access rights, asset monetization and value capture financing avenues,” the statement read.
The approval for the Thane and Pune metro projects comes months ahead of the Maharashtra assembly elections, but the polling date is yet to be announced.
While approving the two corridors of the third phase of the Bengaluru Metro Rail Project, the government said the total completion cost of the project would be Rs 15,611 crore.
(With PTI input)
