French finance company to fund Pune Metro Rail Project 

ST Correspondent
Thursday, 10 August 2017

Speaking to the press, Forange said the delegation is satisfied with the way the work of Pune metro rail is going on, and the AFD is willing to fund the project. “The formal decision about funding will be announced in the next couple of months.” 
According to the DPR of the project, 40 per cent funding will be raised in India by making monetary provision in the budget, but 60 per cent funding will be sought through foreign funding agencies.

Pune: French Development Bank (AFD) has expressed willingness to fund the ambitious project of Pune Metro Rail and a formal announcement about this will be made in the coming three to four months. A delegation of AFD is on a three-day visit to Pune to examine the progress of the project being executed by MAHA Metro in Pune and Pimpri-Chinchwad.

The Department of Economic Affairs invited the AFD to provide funding of about 245 million Euros.
The delegation director of the AFD, Nicholas Michel Bernard Forange and project manager (transport) of the AFD, Mathieu Verdure observed the Pune metro rail project work going on in various parts of Pune and Pimpri-Chinchwad. After visiting the project sites, the delegation decided to consider funding the project through the Government of India.

Speaking to the press, Forange said the delegation is satisfied with the way the work of Pune metro rail is going on, and the AFD is willing to fund the project. “The formal decision about funding will be announced in the next couple of months.” 
According to the DPR of the project, 40 per cent funding will be raised in India by making monetary provision in the budget, but 60 per cent funding will be sought through foreign funding agencies.

The total budget of the project is Rs 11,420 crore. 845 million Euros will be sought from foreign funding agencies, out of which funding of 600 million Euros is proposed to be sought from the European International Bank (EIB), and the remaining from the AFD.

The AFD has funded metro rail projects in Bengaluru, Kochi and Nagpur.

 

Related News