Attention Pune residents! Get ready for some major infrastructure developments coming your way! The Maharashtra State Road Development Corporation (MSRDC) is gearing up to issue bonds to fund the much-anticipated Pune Ring Road project and the Virar-Alibaug multimodal corridor. This exciting news comes after some hurdles with HUDCO’s loan offer.
With 90% of the land already acquired for the western phase of the Pune Ring Road and progress being made on the eastern phase, MSRDC is planning to float bonds worth a whopping Rs 27,750 crore. A significant chunk of this, Rs 5,500 crore, will go towards the Pune Ring Road project. Construction is expected to kick off post-monsoon, so get ready for some roadwork in the near future!
The Pune Ring Road project, covering a total of 136 km with both eastern and western corridors, has attracted interest from 19 different companies. The selection process is underway, with plans to choose five companies for different segments as the project is broken down into nine phases. The goal is to have the entire ring road completed by September 2027, providing much-needed relief from traffic congestion in Pune.
Funding for the western phase is secured, with the government securing a loan from HUDCO. However, the land acquisition alone is projected to cost a hefty Rs 10,000 crore, covering a vast area across 87 villages. Additional funds are being sought from the state government to ensure the project stays on track.
In addition to the Pune Ring Road, the Virar-Alibaug multimodal corridor is also on the horizon. Spanning 136 km, this project includes the Virar-Alibaug Metro rail project, estimated to cost around Rs 55,000 crore. This marks a new direction for MSRDC, as they venture into the realm of Metro rail projects for the first time.
Overall, these developments are set to reshape traffic dynamics in Pune and mark a significant milestone in the city’s urban development. So buckle up, Puneites, because big changes are coming your way!
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