1. MMRDA approves Rs 45k cr for metro corridors, flyovers

MMRDA approves Rs 45k cr for metro corridors, flyovers

MMRDA on Thursday approved close to R45,000 crore worth of infrastructure projects for Mumbai Metropolitan Region...

By: | Published: November 21, 2014 4:40 AM

The Mumbai Metropolitan Region Development Authority (MMRDA) on Thursday approved close to R45,000 crore worth of infrastructure projects for Mumbai Metropolitan Region, including two metro corridors and few flyovers that will reduce traveling time and increase convenience of travel in the city.

Maharashtra chief minister Devendra Fadnavis, who is also the chairman of the MMRDA, gave a go ahead to the much-awaited metro corridors of Dahisar-Charkop-Bandra-Mankhurd (DCBM) and Wadala-Ghatkopar-Thane-Kasarvadavali (WGTK) projects at the authority’s meeting held in Mumbai. The authority also approved four flyovers and a road to clear the daily peak -hour traffic chaos in the alternate business district of Bandra-Kurla Complex.

The 40-km long completely underground DCBM Metro Corridor, running from Dahisar in north Mumbai till Mankhurd in the east, via Charkop and Bandra, is estimated to cost R25,605 crore. This is the metro section that was earlier planned to be developed by a Reliance Infrastructure-led consortium as a 32-km entirely elevated corridor running from Charkop till Mankhurd, via Bandra. Last week, RInfra and MMRDA announced that the company and the state government have mutually decided to terminate the concession agreement “at no cost or claim to either party”.

The other metro line that got approval will be a 32-km-long partially underground and elevated corridor, which is expected to cost R19,097 crore. This section will connect Wadala in the eastern part of the island city to far off suburbs in east MMR, via Ghatkopar and Thane.
Both these metro corridors will be implemented by the Mumbai Metro Rail Corporation (MMRC) within a period of six to seven years, MMRDA said in a press release. Half of the project cost of both the corridors will be funded through loans from international finance agencies. Of the remaining project cost for the two metros, central government is likely to bring in 20% and the state government/MMRDA will pitch in 30% by way of equity and sub debt.

The MMRDA has been partnering with international finance agencies like Japan government’s Japan International Cooperation Agency (JICA) for various infrastructure projects in the city. JICA has agreed to extend a loan of close to R13,000 crore for the 32.5-km-long underground metro being planned from Colaba in south Mumbai to SEEPZ in the north, via Bandra. The state authority is also in talks with JICA for the funding of R11,000-crore Mumbai Trans Harbour Link, another show-piece project of the city.

To de-congest the junction leading to the alternate business district of Bandra-Kurla Complex, the authority has also given its approval for constructing four flyovers and a road at a cost of R227 crore. These projects will ease the approach to BKC from Bandra-Worli Sea Link, Dharavi and Western Express Highway saving commuting time.

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