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Urban Infra 2023: Pune Metro Line 3 (PMRDA) bags 'Most Innovative PPP Metro Project of the Year' Award 2023

New Delhi, India, December 7th, 2023 – The 3rd Urban Infra Business Summit & Awards 2023, organized by Urban Infra Group, was a significant event honoring exemplary leaders and corporates for their exceptional contributions to India's infrastructure sector.

Among the esteemed recipients was Pune Metro Line 3 (PMRDA), honored as the ‘Most Innovative PPP Metro Project of the Year’ for setting new standards in public-private partnership in metro and urban infrastructure innovation.
The Pune Metro Line 3 project at Rajiv Gandhi IT Park in Hinjawadi is alleviating traffic congestion and revitalizing the IT hub. Implemented through a unique Public Private Partnership, PMRDA shares the responsibility of key aspects, reducing the state's capital expenditure. With innovative financing methods, including Premium sharing, Stamp Duty increase sharing, and Central Government's Special Assistance Scheme, private funds are accessed. Commercial development parcels and Viability Gap Funding further support the Concessionaire, emphasizing risk hedging and fast-tracking urban transport. This inventive approach demonstrates success in promoting private sector participation and delivering an efficient urban transport system.

The recognition, presented by Prof. (Dr.) Manoj Choudhary, Vice Chancellor of Gati Shakti Vishwavidyalaya, Vadodara, in presence of dignitaries from the nodal ministries, government departments, Public Sector Undertakings and prominient player from the private sectors symbolizes acknowledgment for PMRDA's outstanding leadership and innovative contributions within the railway sector.

The 3rd Urban Infra Business Summit & Awards are a platform dedicated to honoring corporates and individual leaders in recognition of their extraordinary contribution to developing major infrastructure projects in India through innovative ideas, products, and services. A total of 30 (9 individuals and 21 corporates) were felicitated with the 3rd Urban Infra Business Summit & Awards.

Hosted by Urban Infra Group on 7th December 2023 at India International Centre, New Delhi, the event signifies a commitment to acknowledging excellence in the infrastructure sector. The Urban Infra Group, consisting of three leading media firms - Urban Infra Communication, Urban Transport News, and Metro Rail Today - is devoted to trustworthy journalism for India's urban infrastructure sectors.
Anticipating the future, the 4th edition of Urban Infra Business Summit & Awards 2024 is scheduled on 26th June 2024, coinciding with RailTrans Expo 2024 at Pragati Maidan, New Delhi, India.

To nominate for 4th edition of Urban Infra Business Leadership Awards 2024, please use the link.