State to push Pune metro proposal by March 2012

Chief minister Prithviraj Chavan on Wednesday said the state government would take a cabinet decision on Pune’s proposed metro project and issue a government resolution (GR) on it within three months.He was speaking in the state legislative council, presently in session in Nagpur. The matter was raised by MLC Mohan Joshi. MLCs Anil Bhosale and Dipti Chowdhary participated in the discussion.Chavan said in a reply that he would soon approach the Union urban development ministry with a detailed financial proposal for the project, adding that a special purpose vehicle, called ‘Pune Metro Rail Company’, would be required to be formed for its implementation.The state government is weighing the option of a loan from the Japanese government at an interest rate of 1.4 per cent with repayment after 30 years, Chavan said and added that the Union urban development minister has shown readiness to support the project. The estimated cost of the 15-km Vanaz to Ramwadi elevated metro project is Rs 2,593 crore.Delhi Metro Railway Corporation (DMRC) had prepared the detailed project report (DPR) of the metro railway project for the city in 2009. In it the first stage is of 31 km, which includes the Vanaz to Ramwadi route of 15 km. The Swargate to Pimpri-Chinchwad route is also included in this stage.The second stage of the project is of 44 km. After completion there would be metro railway project on a total route length of 75 km.