Centre approves Rs12,200-cr Thane Ring Metro Rail Project, expansion of Bangalore Metro
17 Aug 2024
The union cabinet on Friday approved the construction of well integrated Ring Metro Rail Project in Thane, near Mumbai, involving a total cost of Rs12,200 crore.
The cabinet also approved two corridors of Bangalore Metro Rail Project Phase-3 project with a total length of 44.65 km with 31 stations and involving a total project cost of Rs15,611 crore.
The Thane ring rail corridor, of a total length of 29 km (26 km elevated and 3 km underground) and 22 stations, will connect prominent locations like Naupada, Wagle Estate, Dongripada, Hiranandani Estate, Kolshet, Saket etc.
The rail corridor will run along the periphery on the west side of Thane city with 22 stations and will pass along the Ulhas River on one side and Sanjay Gandhi National Park on the other.
This rail corridor besides providing a sustainable and efficient mode of transport, will also help the city realise its economic potential.
By reducing traffic congestion on the roads, the project will also contribute to reduction of greenhouse gas emissions.
The estimated project cost of Rs12,200.10 crore will be shared equally with the central and state gover4nments holding equal equity with part funding by agencies.
Funds would also be raised through innovative financing methods like selling station names and access rights for corporates, asset monetization. value capture financing, etc.
The corridor that connects major business hubs would provide an effective transport option for large section of employees. The Project is likely to be completed by 2029.
By improving transportation and connectivity, the new Metro line would benefit commuters, including students and those commuting daily to office or their work area.
The Thane Ring Metro Rail Project, when completed, is expected to have a total daily ridership of 6.47 lakh by 2029, 7.61 lakh by 2035 and 8.72 lakh by 2045.
Maha Metro will execute the project, including civil, electromechanical and other related works. Maha-Metro has already started the pre-bid activities, including preparation of tender documents, says a cabinet release.
The project will extend Corridor-1 from JP Nagar (4th Phase) to Kempapura over a length of 32.15 km along Outer Ring Road West and will have 21 stations.
Besides it will extend Corridor-2 from Hosahalli to Kadabagere over a length of 12.50 km along Magadi Road, with 9 stations
On completion of the project, which is expected by 2029, Bengaluru city will have a Metro Rail Network of 220.20 km providing connectivity to Airport and Outer Ring Road East that connects major IT clusters.