CM gives nod to 118-km Metro, finance centre | mumbai | Hindustan Times
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CM gives nod to 118-km Metro, finance centre

mumbai Updated: Aug 27, 2015 01:14 IST
HT Correspondent
HT Correspondent
Hindustan Times
Mumbai news

Chief minister Devendra Fadnavis approved several big-ticket infrastructure projects and the big bucks required to execute them at a meeting of the government authority of the Mumbai Metropolitan Region Development Authority (MMRDA) on Wednesday.

The nod has paved the way for the Rs35,400-crore 118-km Metro network in Mumbai, International Finance and Business Centre on a 20-hectare plot at Bandra-Kurla Complex, elevated roads at BKC and a new BKC-like growth centre near Kalyan.

The 118-km Metro plan includes construction of a 40-km Metro-2 (Dahisar-Charkop-Bandra-Mankhurd) at a cost of Rs12,000 crore, 40-km Metro-4 (Wadala-Ghatkopar-Thane-Kasarvadavali) at a cost of Rs12,000 crore, 27-km Metro-5 (Dahisar East- Andheri East- Bandra East) for Rs8,100 crore and 11-km Jogeshwari-Vikhroli Link Road Metro-6 corridor, which will cost Rs 3,300 crore. The state has decided to build all future Metro lines on elevated corridors, except Metro 3 (Colaba- Bandra- Seepz), which will be underground.

MMRDA sources said the cost is likely to be revised, after the detailed project report (DPR) gets updated.

The CM-led authority accepted the detailed report for two Metro lines -- 16.5-km Dahisar East-Andheri East (Rs4,737 crore) and 18.6-km Dahisar to DN Nagar (part of Metro 2) (Rs4,994 crore) -- and has recommended it for the state government’s approval. The authority recommended financial assistance from various institutions such as World Bank, Japan International Cooperation Agency, and other national and international financial institutions to build the Metro lines.

The authority has also cleared a proposal to develop the International Financial Services Centre (IFSC) in G-text block of BKC. The centre is expected to attract global financial service companies and the state plans to turn it into a financial hub by providing sops such as duty-free import and exemption from taxes, including central sales and service tax. The CM-led authority also approved Rs95.57 crore for MMRDA’s smart BKC project, which has features such as public wi-fi, smart solar street lighting, smart parking with use of apps, building management system, eco-friendly bus service, app-based address finder on 175-hectares of the BKC.

The transport infrastructure around the BKC will also get a boost with the authority approving a Rs744-crore plan to build three elevated roads to address traffic congestion on the northern side of the BKC and Santacruz-Chembur junctions. The three roads include a 1.3-km elevated road for dispersal of BKC traffic on Santacruz-Chembur Link Road (SCLR) going towards Chembur, 3.5-km elevated road from Kapadia Nagar to Western Express Highway (WEH) (Rs480 crore) and 1.9-km elevated road from Asian Heart Institute to WEH (Rs263 crore).

The state’s plan to develop a new commercial growth centre near Kalyan, too, got a headstart with the authority approving its Rs1,089-crore plan. The growth centre proposed on 1,089 hectares is aimed at employment generation and balanced development in the Mumbai Metropolitan Region. The government is planning to grant an FSI of 2 to 4 for the centre.

Road development work worth Rs60.61 crore in areas such as Palghar, Kalyan, Ambarnath, Karjat and Kulgaon-Badlapur have also been approved.