The MMRDA on Thursday agreed to pay Rs650 crore viability gap funds as it announced the Rs2,356 crore first phase of the Versova-Andheri-Ghatkopar Metro Rail project.
Agency agrees to pay Rs650 crore viability gap fund.
The Mumbai Metropolitan Region Development Authority (MMRDA) on Thursday agreed to pay Rs650 crore viability gap funds as it announced the Rs2,356 crore first phase of the Versova-Andheri-Ghatkopar Metro Rail project.
The first phase will be ready by December 2009. The pollution-free, air-conditioned fast mode of transport will have moderate ticket rates of Rs6 (3 km) and Rs10 (more then 8 km). The distance between Versova and Ghatkopar will be covered in 21 minutes. The government has also urged the Centre for some financial support under the National Urban Renewal Mission (NURM).
Chief Minister Vilasrao Deshmukh said, "The construction of the first phase of Metro Rail will be executed through a special purpose vehicle formed by Mumbai Metro Consortium lead by M/s Reliance Energy Ltd and MMRDA. They will enter an agreement to implement the project on a built-own-operate-transfer (BOOT) basis for a period of 35 years of which the first five years will be for the construction."
MMRDA chief T Chandrashekhar said, "The 146.5km Mumbai Metro Rail Master Plan—worth Rs19,500 crore and approved by the state government—will be executed in three phases. The first phase—along with the actual 11km stretch of the Versova-Andheri-Ghatkopar route—also includes the 38km Colaba (Backbay)-Mahim-Charkop route and 14km Bandra-Kurla-Mankhurd route."
Deshmukh said, "The metro rail has been conceived to attract Mumbaikars to use public transport rather than private mode of transport. While there was only 2.3 times increase in the carrying capacity of the suburban rail transport, the increase in suburban rail traffic went up by six times." He observed that inadequate road network and increase in private vehicles added to the traffic congestion in the city.
The Versova-Andheri-Ghatkopar metro will have elevated stations. It will connect densely populated areas of western and eastern suburbs with two important railway stations.
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