My target remains 5c by 30/6/2017. Please note this is a very...

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vjind

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17/09/16

20:55

Post #: 19229258
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Originally posted by Timtator ↑

First of many Indian infrastructure projects to be financed by the AIIB.

World Bank, AIIB approve Rs 6,325 crore (A$126.5m) for metro project

PUNE: The city's metro rail project received the much needed boost with the World Bank and the Asian Infrastructure Investment Bank recently approving a loan of Rs 6,325 crore for the project.

"The loan has been approved and the Union government has issued a letter in this regard," a statement released on Wednesday by district guardian minister Girish Bapat said.

"A meeting has been fixed with the two banks to discuss the feasibility and other factors of the project. A loan agreement will be signed in three months' time," said Pune municipal commissioner Kunal Kumar while speaking to reporters on Friday.

Earlier in August, the Pune Municipal Corporation had obtained a clearance from the railways for the project. The revised estimate announced by the Delhi Metro Rail Corporation in June 2015, is pegged at Rs 11,522 crore, a hike of Rs 653 crore from the 2014 estimate.

The project is now awaiting a final go-ahead from the Union government. The government will give the green signal after receiving a clearance from the Public Finance Board. The actual ground work is expected to begin after the Centre's nod. However, an approval from the Public Investment Board is awaited. The plan was sent to the board in 2014. It had raised certain queries in the detailed project report and suggested changes. The civic body and the state government have made the changes and sent it to the Union government.

The government had in June 2015 given the green signal to the changes in the metro route. The alignment of the route was shifted from JM Road to alongside Mutha river. A group of prominent personalities, however, have opposed this as a part of the route will pass through the river bed. They have filed an environmental interest litigation in the National Green Tribunal against the plan. The tribunal is scheduled to hear the case this month.

http://timesofindia.com/city/pune/W...-Rs-6325-crore-for-metro-project/articleshow/

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My target remains 5c by 30/6/2017. Please note this is a very conservative target as I have factored some variance in iron prices , softer share market in my assessment.

It may hit higher price but will definitely by 5c by then.

NSL Price at posting: 2.4¢ Sentiment: Buy Disclosure: Held
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