It will then start raising funds through loans and financial grants
MUMBAI: After the state government approves two new metro lines — Dahisar-DN Nagar and Dahisar (East)-Andheri (East), the Mumbai Metropolitan Region Development Authority (MMRDA) will start arranging for funds. The planning agency plans to take loans from global funding agencies and seek financial assistance from the Centre and state governments.
The MMRDA will soon approach the state government with its projects. MMRDA commissioner UPS Madan said: “As the detailed project reports (DPR) for these lines have been approved, we are going to seek the state government’s approval. The elevated Metro lines will be constructed on cash contract mode. We will raise funds through loans and financial grants from the governments.”
Chief minister Devendra Fadnavis has started his Japan tour and is set to hold talks with Japanese Ministry of Economy and Trade and Industry (METI).
He will seek financial assistance to develop the 118-km-long Metro network pegged at Rs35,400 crore. The ministry offers loan with interest rate between 0.1 and 0.3%.
In August, the DPRs for these lines were approved by the Fadnavis-headed MMRDA, along with the 118-km Metro plan. Delhi Metro Rail Corporation updated the DPRs recently.
The 18.6-km Dahisar-DN Nagar Metro line is a part of 40-km Dahisar-Bandra-Mankhurd Metro 2 line and will cost Rs4,994 crore.
Metro 2 will be developed in three phases — Dahisar-DN Nagar, DN Nagar-BKC and BKCMankhurd.
While work on Mankhurd-BKC and DN Nagar-Dahisar will be taken up soon, the stretch from BKC to Andheri is facing several hurdles, including land acquisition and permission issues from the Airports Authority of India.
The 16.5-km Dahisar (East)Andheri (East), which is being planned along the Wester n Express Highway, is likely to be extended till the airport. The estimated cost of this route is Rs4,737 crore. The line will connect Metro 3 Colaba-Bandra-Seepz at the airport, thus providing seamless connectivity between Colaba and northern parts of the western suburbs.
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