Deloitte appointed as adviser for Pune Metro Rail Project

The Pune Metropolitan Region Development Authority (PMRDA) has appointed Deloitte as transactional adviser to ready its bid document and evaluate companies that have made a bid for the metro project.

The metro rail project from Hinjewadi to Shivajinagar will be implemented under the public private partnership (PPP) model and cost Rs 7,947 crore.

Also read: First Driver-less train to roll in this Indian Metro from October

“We have a team of six people from the company who are experts in the field of traffic management, real estate, financial, railway engineering, taxation and law. They will evaluate the qualification of the bids and ready the agreement by September end,” stated PMRDA chief Kiran Gitte on the proposed 23.33 km Hinjewadi-Shivajinagar stretch.

The officials have been asked to ready the request for proposal and the draft of the concession agreement by September. PMRDA expects the officials to work with them till the bid is finalised. They will have to check everything from design, cost, the success of the project and transactions in the coming six months till the deal is finalised and after that too the officials will be retained till the work is completed, stated officials.

Also read: Australian Trade Minister Rides in Delhi Metro, visits Azadpur market

PMRDA chief said that the transaction advisery for the project will execute the lease and legal agreement and has been chosen after evaluating several proposals.

Three companies have evinced interest in executing the project and in the tendering process. While the bid will be readied by September the same will be finalised by end of 2017.

PMRDA will go for branding of the proposed 23 metro stations on this stretch and a letter has been sent to industry associations to develop these metro stations.

The stations will be named after companies developing the stations.

 According to PMRDA officials, Infosys has already evinced interest in developing one of the stations near Hinjewadi.
Each station will be developed at a cost of Rs 40 crore and the entire effort is aimed at helping people use the metro and decongest Hinjewadi area.
The metro project has been taken up on a priority basis and due to non-availability of funds from the state government, 22 hectares of land will be monetised to fund the project.
Source: TOI