Mumbai: The Brihanmumbai Municipal Corporation (BMC) standing committee on Tuesday cleared the coastal road project. The work on the Rs 12,000 crore ambitious project is expected to start next year and finished within four years.
The cost of the project has increased from the initial estimate of Rs 5,000 crores to Rs 12,000 crores. Explaining the reasons behind cost escalation, BMC commissioner Ajoy Mehta informed the committee members that project cost has increased because of the hike in fuel price and steel. Also, some additions were made to the project after review of the Detailed Project Report (DPR), Mr Mehta added.
Mr Mehta also claimed that the project would help in creating 90 hectares of open space which would be worth Rs 26,000 crores.
“These will remain as green spaces and will have no construct on it,” he said.
The proposed 29-km-long coastal road will connect Nariman Point to Kandivali. The south end of coastal road includes the stretch from Marine Drive to the Bandra-Worli Sea Link (BWSL) and the north part, the BWSL to Kandivali.
The south part is divided into three sections: an underground tunnel from Princess Street (Marine Drive) to Priyadarshini Park, a bridge from Priyadarshini Park to Baroda Palace (Haji Ali) and a road from Haji Ali to BWSL.
It is expected to reduce travel time by 70 per cent.
