EIB to fund Pune Metro project6 February 2020
INDIA - The European Investment Bank (EIB) has announced to invest EUR 600M (USD 660M) in the Pune Metro project, located in the western state of Maharashtra.
The EIB will fund the construction of two new lines of the metro rail and acquisition of 102 metro cars.
The Pune metro system will include 31km of tracks, both over and underground, with 30 stations to boost the coverage of the public city transport network.
The new metro rail system is designed to reduce commuting hours for more than three million people living in the city.
This is the fourth EIB investment in metro rail systems in India, having so far invested metro systems in Bhopal, Bangalore and Lucknow. With the Pune investment, the total amount of EIB-approved support for metro systems in India reached EUR 2bn (USD 2.2bn).