Mar 17 2008
New infrastructure projects for Mumbai!
A new infrastructure project for Mumbai including as many as 16 flyovers, a proposed monorail project is going to give the city a new shape.
The Maharashtra government has sanctioned Rs.66.43 billion ($1.65 billion) for infrastructure and transport projects in the city and its suburbs for 2008-09.
Chief Minister Vilasrao Deshmukh said that the projects include the prestigious Mumbai Urban Transport Project (MUTP) and the Extended Mumbai Urban Infrastructure Project (MUIP),
Rs.5 billion will be spent on the ongoing MUIP, Rs.4.68 billion on the 146-km-long Metro Railway Project, Rs.3 billion for Mithi River Development Project and Rs.6 billion towards Station Area Traffic Improvement Scheme with skywalks and shopping plazas.
The metro rail project will be completed in three phases. The work on the Phase I connecting the 12-km-long Versova-Ghatkopar sector has already commenced. This will be followed by the 32-km-long Kandivli-Mankhurd sector via Bandra and Kurla. The third route will connect the 20-km-long Colaba-Bandra sector.
As many as 16 flyovers worth Rs.1.50 billion are proposed for the year. An amount of Rs.5 billion will be spent on the monorail project.
It will include Rs.4.31 billion towards the railway component of the project, Rs.2.65 billion for road development and Rs.40 million for relief and rehabilitation of projects-affected persons.
The officials of Mumbai Metropolitan Region Development Authority, MMRDA expects to raise an amount of Rs.61.44 billion with a large chunk - Rs.39.10 billion - coming from sale of land. A World Bank loan of Rs.4.03 billion would also be taken.
The project is initiated by MMRDA to solve traffic and transport problems in the city. It is supposed to be completed by June 2009 and so far an amount Rs.19.54 billion has been spent, while Rs.7 billion will be spent during 2008-09.
