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The Pune Metropolitan Regional Development Authority (PMRDA) has reportedly announced that private companies that are likely to carry out the construction of the metro line between Hinjewadi and Shivajinagar will need to submit the proposed final project reports by April 27. Further, as reported, the authority has shortlisted Tata Realty, Siemens, ILFS and IRB, as per the guidelines of the Centre. The Central Government has already approved the plan to set up a metro line along the route, after which the tenders were floated for the third metro line measuring 23.3 km. The final proposal with clear mention of financial break-up is to be sent within the stipulated time. As reported, the estimated cost of the project, to be executed under the Public Private Partnership (PPP) model, is Rs 8,000 crore. Of this, the Centre, state and the PMRDA are expected to share 40 per cent. The remaining cost is to be borne by the private entity. The project is important to address the traffic woes of the residents and professionals commuting from the city to the offices at the Rajiv Gandhi Infotech Park in Hinjewadi. From the proposals received, the company will have to build, operate and maintain the metro for a period of 35 years.