Maharashtra Government Issues GR For Pune-Nashik Railway Corridor, It Will Boost Economy Also, Says MP Amol Kolhe

Pune, 15th April 2021: Final approval has been given today for the financial participation of the Maharashtra state government in the total project cost for the Pune-Nashik Semi High-Speed railway line. This will give real impetus to the Pune-Nashik railway project, which has been stalled for the last several years, said Dr Amol Kolhe, MP of Shirur Lok Sabha constituency.

One of the important railway projects in the state is the Pune-Nashik semi high-speed railway line. The state government had earlier sanctioned financial assistance along with the central government in the total project cost for the 235.15 km long railway project. A government resolution (GR) was issued today.

An important decision was taken on June 7, 2012, to provide 50% financial participation by the state government in the construction projects of the Pune-Nashik railway line.

At that time the estimated cost of construction of the project was Rs 1899.64 crores. Out of this, the contribution of the state government was Rs 949.82 crore. But no action has been taken by the Union Ministry of Railways for setting up the project. As a result, the project was stalled for many years.

After that Maharashtra Railway Infrastructure Development Company (MahRail) was established on 24th January 2017 in a joint venture between the Union Ministry of Railways and State Government (Center 50 percent: State 50 percent) for development, implementation and feasibility study of railway projects. A detailed project report of Pune Nashik Semi High-Speed Railway project was reported through that MahaRail. But then the presentation of this railway project was expected to be made to the state government.

The project was stalled due to a lack of presentation. However, MP Dr Amol Kolhe followed up with the Ministry of Railways and the state government and got a positive decision on this route. Accordingly, the Mahavikas Aghadi government has decided to speed up the Pune-Nashik High-Speed Railway project.

As per the government decision published by the state government, the state government will bear the share of the cost of the construction project for the construction of a new high-speed railway line between Pune and Nashik. The estimated cost of the project is Rs 16039 crore. Of this, 60 percent will be raised through debt and the remaining 40 percent through equity. For this project, the central government has proposed to contribute Rs 3208 crore as 20 percent of the total project cost. The state government is expected to bear a minimum of Rs 3,208 crore and a maximum of Rs 6,416 crore. This amount has been approved to be made available in phases over the next three years. The state government has agreed to provide additional financial assistance of Rs 10,238 crore over the next 11 years till the loan is repaid. In particular, stamp duty for land acquisition for this project has been waived. Any increase or decrease in project cost is also allowed to be adjusted in the contribution of the State Government.

“I would like to thank Chief Minister Uddhav Thackeray, Deputy Chief Minister and Finance Minister Ajit Pawar for their financial support for the construction of Pune-Nashik High-Speed Railway line. I am happy that the dream of the Pune-Nashik railway line, which has been stalled for the last several years, is coming true”, said Dr Amol Kolhe, Member of Parliament from Shirur Lok Sabha constituency.