Maharashtra approves Rs 6192 crore for Metro project

MUMBAI: The Maharashtra government on Wednesday gave in-principle approval for an outlay of Rs 6,192 crore for the Charkop-Bandra-Mankhurd route of the ambitious Mumbai Metro project, paving the way for inviting global tenders.

Mumbai Metropolitan Region Development Authority (MMRDA) is expected to pick up 26 per cent stake in the special purpose vehicle to be floated for the 31.87-km Metro route.

MMRDA will invite global tenders for operators to run the link on a build, own, operate and transfer (BOOT) basis. The BOOT operator will enter into an agreement with the special purpose vehicle for 35 years.

The route will take five years to complete and is expected to be operational by 2011.

The route would be an elevated one connecting western and eastern suburbs. There will be 27 stations on the route and the rails will be five to 12 meters above the ground.

Transport studies have predicted that by 2011, about 12.75 lakh people will use the line daily. By 2021, the numbers are expected to rise to 18.77 lakh and by 2031, to 22.16 lakh.