Mumbai Metro gets a mega fund booster

  • 05/06/2008

  • Free Press Journal (Mumbai)

IN a major boost to the Mumbai Metro rail project, the Central Government has sanctioned Rs 4,500 as a viability gap funding for the project that is estimated to cost Rs 22,000 crore. Union Urban Development Minister Jaipal Reddy made an announcement to the effect on Wednesday. "Chief Minister Vilasrao Deshmukh had requested for funds from the Centre. The Centre is sanctioning Rs 4,500 crore as viability gap funding for the Mumbai Metro Rail Project (MMRP)," Reddy, who was in the city to attend Sant Gadgebaba Rural Cleanliness Campaign Award functions, said. The Metro project will be completed in three phases and will transform the transportation scenario across the metropolis. The proposed metro links for the city in the first phase are from Versova to Ghatkopar and Charkop-Bandra-Mankhurd as east-west suburban corridor and Colaba to Bandra as a north-south corridor. Reddy also said the Jawaharlal Nehru Urban Renual Mission is doing well in Maharashtra. The state's Employment Guarantee Scheme model is being replicated nationwide, he added. The Railways is contemplating introduction of an elevated rail corridor to supplement its existing services on the suburban line of the Western Railways, a project which was first announced by Railway Minister Lalu Prasad Yadav in this year's rail budget. The Bandra-Colaba Metro line is one of the three corridors being planned in the first phase of the Mumbai Metro Rail Project. The government plans to introduce nine Metro rail corridors in three phases across the country's financial capital as part of the project. Metropolitan Commissioner Ratnakar Gaikwad said since both the elevated corridor and Metro line are parallel it could be a problem for a private party if it undertakes the construction of the Metro line. Also if the State Government takes up the project itself, by generating funds for the corridor, its viability could be reduced if the elevated rail corridor came up, he said. The State Government would consult with experts in the matter before proceeding, the said.