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Tata Sons will contribute Rs975 crore to the Pune IT City Metro Rail Project

The 23-km, Rs7,420-crore project is being financed with a debt-to-equity ratio of 1.8 times; all of the financing has been secured, and Tata Sons is supporting the planned equity participation.

September 14, 2022 8:50 IST | India Infoline News Service
The Tata group's holding company, Tata Sons, is contributing Rs975 crore to the Pune IT City Metro Rail project, a special purpose vehicle that has been awarded the contract to build, operate, and maintain the city's project connecting Shivaji Nagar and Hinjewadi.
74% of the SPV is owned by Tata, and the other 25% is owned by Siemens Project Ventures.
The 23-km, Rs7,420-crore project is being financed with a debt-to-equity ratio of 1.8 times; all of the financings have been secured, and Tata Sons are supporting the planned equity participation.
The Maharashtra and Union governments each have a 50% share in the development of the Pune metro rail.
The aforementioned investment in the Metro Rail SPV is being made by Tata Realty and Infrastructure (TRIL), an affiliate of Tata Sons.
To obtain money and pay off its debt, TRIL intends to sell its newly completed highways and ropeway projects.


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