The Union cabinet is likely to approve the Mumbai metro’s third corridor — a 33-km underground section linking Colaba-Bandra-SEEPZ — on Thursday. The three corridors of the metro will together cover a distance of 77kms.
However, unlike the first two lines, which Reliance Infras-tructure is building on Public Private Partnership (PPP) model, the proposed third line will be a joint venture between the Centre and the Maharashtra government.
The third corridor had recently got a boost, when the Japan government, on May 30, had agreed to provide 71 billion yen and technical support for the project which is worth Rs23,136 crore. While the currency conversion comes to Rs4,000 crore, MMRDA officials have claimed the aid from Japan will come to Rs13,000 crore.
The funding will be provided through an agreement with the Japan International Coopera-tion Agency (JICA), an independent government agency that aims to assist in the economic and social growth of developing countries.
A few Japanese companies — Kawasaki, Mitsubishi, Hitachi and Nippon — have shown interest in the development of the project.
The state has set a March 2019 deadline for the completion of the third line.
The first line (Versova-Ghatkopar), which is under construction, is expected to be complete by December and work on the second line (Charkop-Bandra-Mankhurd) is yet to begin.