MMRDA funds to boost Metro projects
MMRDA has the capacity to generate around Rs 17,000 crore through its fixed deposits.
Mumbai: Civil work for the ongoing metro corridors is set to get a boost with the Mumbai Metropolitan Region (MMRDA) set to announce its financial budget for 2017-18. A major chunk of funds are reserved for the metro corridors connecting north and south Mumbai along with neighbouring satellite cities.
Currently, MMRDA has the capacity to generate around Rs 17,000 crore through its fixed deposits. The financial budget is expected to be like that of 2016-17 allotting around Rs 6,500 crore in the new budget. However, out of the total around Rs 6,600 crore, nearly half of the budget was spent as most infrastructure projects including metro were in pre-construction stage last year.
Pravin Darade, additional metropolitan commissioner, MMRDA, said, “Our budget is definitely going to boost the construction of proposed and ongoing metro projects. Also, the Dahisar — DN Nagar Metro 2A and Andheri east — Dahisar east Metro 7 corridor is going to create a record by finishing in a very limited period.”
For 2016 budget, the biggest slice of the pie was given to two projects, the Colaba-Bandra-Seepz Metro line three and the Sewri-Nhava Sheva bridge also known as the Trans-Harbour link that connects Navi Mumbai to Thane, which have been given a boost of Rs 1,000 crore.
The second biggest allocation saw an allocation of with Rs 500 crore each for Metro 2A and Metro 7 followed by Rs 341 crore for the Wadala to Sant Ghadke Maharaj (Jacob circle) second phase. A sizable allocation of Rs 171 crore was set aside for 25 hybrid buses, which will ply from Bandra-Kurla-Complex to Bandra, Kurla and Sion railway stations.
The budget this year is set to be announced by March 30 and would be approved by chief minister Devendra Fadnavis, who is also the chairman of the MMRDA.