The European Investment Bank (EIB) and the Indian government on Friday signed a contract for second tranche of Euro 150 million for Pune Metro Rail project. EIB had approved the total loan of Euro 600 million to fund the Pune Metro Rail project. The contract for first tranche of Euro 200 million was signed on July 22, 2019.
The Maharashtra Metro Rail Corporation (MAHAMETRO) is the implementing agency for this project. The EIB financing will fund construction and operation of Corridor 1 (North-South)—Pimpri Chinchwad Municipal Corporation to Swargate and Corridor 2 (West-East)—Kothrud to Ramvadi, totaling about 31.25 kilometers and purchase of a related fleet of metro cars.