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The Tata Group and Siemens Ltd on Monday announced a joint venture to construct a 23.30 kms long elevated Metro Line for Pune, under the PPP mode.

This is the first metro project in India to be taken up under the Centre's new Metro Rail Policy and the proposed line will link Hinjewadi Rajiv Gandhi Infotech Park and Shivajinagar via Balewadi with 23 stations en route.

The TRIL Urban Transport Pvt Ltd of the Tata Group and Siemens Project Ventures GmbH of Siemens Financial Services will develop the metro corridor under the PPP route through a SPV named "Pune IT City Metro Rail Ltd".

This is the 3rd metro line coming up in Pune, with another elevated 14-km-long Vanaz-Ramwadi corridor, and the 16-km-long partly elevated and underground Pimpri-Swargate route being built by Maharashtra Metro Rail Corporation Ltd (Maha Metro).

The work on the Hinjewadi-Shivajinagar corridor officially got underway in November 2021 for the prestigious project, estimated to cost a little more than Rs 8,000 crore and the route is slated for completion in around 39 months.

For the PPP project, a consortium of Siemens AG, Siemens Mobility GmbH, Siemens Ltd and Alstom Transport India Ltd has been awarded the contract for the electrical and mechanical system works by the SPV, which will be completed in 39 months.

Siemens Ltd will provide the project management, turnkey electrification, signalling, communications and depot works (equipment) for the project worth Rs 900 crore, said the company's CEO and Managing Director Sunil Mathur.

The Siemens Financial Services invests in infra projects around the world and through PPPs, it helps cities meet through their goals of obtaining intelligent infrastructure solutions and enable smarter and more sustainable transportation networks.