New infrastructure projects to give Mumbai new shape

March 15th, 2008 - 11:56 pm ICT by admin  


Mumbai, March 15 (IANS) As many as 16 flyovers, a proposed monorail project and several other infrastructure undertakings are going to give Mumbai a new shape as the Maharashtra government sanctioned Rs.66.43 billion ($1.65 billion) for infrastructure and transport projects in the city and its suburbs for 2008-09. The projects include the prestigious Mumbai Urban Transport Project (MUTP) and the Extended Mumbai Urban Infrastructure Project (MUIP), said Chief Minister Vilasrao Deshmukh here after a meeting with the officials of Mumbai Metropolitan Region Development Authority (MMRDA).

According to him, Rs.5 billion will be spent on the ongoing MUIP, Rs.4.68 billion on the 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.

As many as 16 flyovers worth Rs.1.50 billion will be completed during the year while an amount of Rs.5 billion will be spent on the monorail project. The remaining budget will be spent on other related but smaller projects.

MMRDA expects to raise an amount of Rs.61.44 billion with a large chunk - Rs.39.10 billion - coming from sale of land. MMRDA would also take a World Bank loan of Rs.4.03 billion.

The MUTP was initiated by MMRDA to improve the traffic and transportation facilities in the city at a total outlay of Rs.45.26 billion. It is scheduled for completion 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.

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 146-km-long Mumbai Metro Rail will be executed in three phases at a total cost of Rs.153 billion, against which the government has sanctioned Rs.4.68 billion for 2008-09.

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.

Related Stories

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |

Subscribe