Release date: 17 October 2025
Promoter – Financial Intermediary
MAHARASHTRA METRO RAIL CORPORATION LTDLocation
Description
The project concerns the extensions of Metro Corridor 1 (PCMC to Swargate), of Pune Metro Rail Project (2016-0327) towards the North (PCMC-Nigdi) and the South (Swargate - Katraj). The extensions will be 10.5km long with 9 stations.
Objectives
The project will contribute to two main objectives of the EIB External Mandate: (i) climate change mitigation, by promoting modal shift from road to rail and thereby a reduction of greenhouse gas emissions; (ii) enhancement of social and economic infrastructure, by making a key contribution to urban development, thereby improving the business environment to support the private sector and facilitate access to amenities and jobs. The project is in line with the EU Country Strategy Paper for India which highlights the infrastructure gap and need to address rising greenhouse gas emissions. It supports two main objectives of EIB External Mandate: (i) climate change mitigation, by promoting modal shift from road to rail while reducing greenhouse gas emissions, and (ii) social and economic infrastructure development, by contributing to urban development.
Sector(s)
- Transport - Transportation and storage
Proposed EIB finance (Approximate amount)
EUR 235 million
Total cost (Approximate amount)
EUR 475 million
Environmental aspects
Metro rail systems in India are exempt from the Environmental Impact Assessment (EIA) procedure and prior environmental clearance under the EIA Notification Act, 2006. However, all necessary permits for tree felling, waste management, water use, and other construction-related activities will be obtained as required. Despite the absence of a legal obligation under the Indian law, the project has been subject to a full Environmental and Social Impact Assessment (ESIA) in line with the EIB's Environmental and Social Policy, and its compliance with applicable EIB’s Environmental and Social Standards will be further reviewed during appraisal.
Procurement
The promoter has to ensure that the project implementation will be done in accordance with the EIB's Guide to Procurement.
Status
Under appraisal - 7/02/2025