PUNE METRO NORTH AND SOUTH EXTENSION (EIB-20240228)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Specific Location
Pune
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 10, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
MAHARASHTRA METRO RAIL CORPORATION LTD
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 277.45 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported
Converted using 2026-02-02 exchange rate.
Loan Amount (USD)
$ 277.45 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 235 million
Converted using 2026-02-02 exchange rate.
Project Cost (USD)
$ 560.80 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 475 million
Converted using 2026-02-02 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Feb 2, 2026

Disclosed by Bank Oct 17, 2025


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to EIB, 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.

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.

The promoter has to ensure that the project implementation will be done in accordance with the EIB's Guide to Procurement.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

Land requirements for this project are the bare minimum, resulting from value engineering approach. Based on the RAPs, 1.18ha of land needs to be acquired permanently, with the vast majority (72.5%) being governmental land. Accordingly, a total of 105 Project Affected Households (PAHs) will be impacted by the project, experiencing losses involving land, residential and/or commercial structures, temporary livelihood or some combination of these. Temporary land requirements are 4.12ha, out of which 0.3ha is privately owned while the rest of 3.8ha is government land. The temporary land will be leased from private owners with an appropriate and mutually agreed compensation/rent. The RAPs confirmed that no impacts are expected from temporary land acquisition, as the land is not under any agricultural use and there are not any tenants or squatters. In addition to these, 31 common property structures (CPS) may be affected, in their vast majority being bus stops or sheds. The unavoidable loss of such assets will be compensated through replacement elsewhere or a suitable financial mechanism.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.eib.org/en/infocentre/registers/request-form/request-form-default.htm

ACCOUNTABILITY MECHANISM OF EIB

The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address: complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf

When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces

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How it works