PMRDA begins process to raise funds through civic bonds


PMRDA begins process to raise funds through civic bonds

After the success of the Pune Municipal Corporation (PMC) in raising funds through municipal bonds, the Pune Metropolitan Region Development Authority (PMRDA) has begun the process to do the same to implement its proposed mega project of Metro rail, ring road, town planning scheme and Pune-Mumbai hyperloop.

“The PMRDA has invited proposal from merchant banker for raising funds for PMRDA through municipal bonds. The intention is to raise Rs 1,050 crore in the beginning and later increase it as per requirement,” said PMRDA official.
He said there was no specific project, for which the funds would be raised through municipal bonds.

There were major projects, on which the PMRDA had already started working on towards implementation of various development schemes such as Pune Metro Line 3, Mumbai Pune Hyperloop, Pune Ring Road and Town Planning Schemes, he added.

According to PMRDA, the merchant banker will have to provide professional advice and assistance in regard to the amount of funds required to be raised through municipal bonds or infrastructure bonds. Read More

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