Maha Metro has received in-principle approval from the European Investment Bank (EIB) for funding the extension of the Pune Metro project. A Maha Metro official said the EIB would be contributing around 60% of the Pune Metro Phase I project cost. The 5.464-km extension of the Swargate-Katraj will cost ₹3,600 crore, while the PCMC-Nigdi extension line will cost ₹911 crore.