Fadnavids clears two Mumbai Metro projects worth Rs50,000 crore
21 Nov 2014
Chief minister Devendra Fadnavis on Thursday approved three infrastructure projects, including two metro corridors and a major flyover in Mumbai metroplitan area, that would help facilitate better movement in a city bedevilled by traffic jams.
The projects include, the Dahisar-Charkop-Bandra-Mankhurd (DCBM) metro line, Wadala-Ghatkopar-Thane (Teen Haath Naka)-Kasarvadavali (WGTK) metro route, and flyovers on Kalanagar junction, which have been at the planning stage for years now.
The projects were approved at the 136th quarterly meeting of the Mumbai Metroplitan Region Development Authority (MMRDA). Paperwork, including inviting tenders and firming up financial tie-ups will start now, but real work on these projects may take at least two years, or even more, say officials.
As per the plans approved by Fadnavis, the much-needed-and-delayed DCBM corridor will be 40km-long having 36 underground stations. It will be implemented at an estimated cost of Rs25,605 crore.
WGTK metro will have six elevated stations on Ghodbundar Road, the remaining will be 24 underground stations along the overall 32km-long route. Estimated cost of this project is Rs19,097 crore.
The Mumbai Metro Rail Corporation (MMRC) will finish both the projects in six to seven years. Both corridors will be funded through loans to the tune of 50 per cent of the cost from international finance agencies, while the centre and state/MMRDA will provide 20 per cent and 30 per cent, respectively, via equity and subordinate debt.
There will be a flyover to reach the Bandra-Worli Sea Link from BKC and vice-versa. Similarly, there will also be flyovers from BKC to Kalanagar and Dharavi to WEH. The four flyovers are estimated to cost Rs227 crore.
Besides, the MMRDA plans to construct a 300-metre long 12-foot wide road, passing through government land, to streamline traffic from Dharavi to Bandra-Worli Sea Link.
The Metro projects will be tabled before the state cabinet first and then sent to the Centre for approval.
MMRDA, meanwhile, is expected to approach the Japanese International Cooperation Agency (JICA) and World Bank for financial assistance. JICA is already funding the Colaba-Bandra-Seepz Metro Line-3, and in a meeting that took place more than two months ago, the World Bank showed interest in funding future projects by providing loans at low interest rates.
