Pune Property

ADB Offers Rs 452 Crore Infrastructure Loan To PCMC

PUNE: The Asian Development Bank (ADB) has offered a loan of Rs 452 crore to the Pimpri-Chinchwad Municipal Corporation to fund several infrastructure projects in the twin towns.
The PCMC Infrastructure Company Ltd a special purpose vehicle created by the PCMC to execute these projects has told the ADB to give details of the terms and conditions for sanctioning the loan.
The PCMC plans to develop 12 bus rapid transit system (BRTS) routes which includes BRTS corridors. The PCIC will collect taxes, development charges and advertisement charges through BRTS corridors.
Municipal commissioner Ashish Sharma, a member of the PCIC board of directors, said, “The PCMC will develop 12 BRTS routes. We have completed development of two routes. The work on three routes, namely Nashik Phata- Wakad road, Kalewadi Phata Dehu Alandi road and Aundh – Ravet road is in progress. The PCMC has to develop other three routes which require funds. The department of economic affairs has approved non-sovereign lending by the ADB to the PCIC.”
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Anil Pharande is Chairman of Pharande Spaces, a leading construction and development firm that develops township properties in West Pune. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer in the PCMC area offering a diverse range of real estate products catering especially to the 42 sectors of Pradhikaran. The luxury township Puneville at Punavale in West Pune is among the company’s latest premium offerings. Woodsville in Moshi is another highly successful PCMC-based township by Pharande Spaces which is now in its 3rd phase.

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