Agencies will pay ₹7,822 crore for wider rail network in Mumbai
MMRDA to contribute ₹3,635.30 crore; Cidco ₹1,794.30 crore; BMC ₹1,794.30 crore; and NMMC ₹598.10 croremumbai Updated: Dec 07, 2018 00:52 IST
The Mumbai Urban Transport Project (MUTP-3A), which got state nod on Wednesday, is all set to put a ₹7,822-crore burden on the agencies in the areas that will benefit from it.
The total cost of the project is ₹54,777 crore, of which ₹14,000 crore will be raised through loans from multilateral funding agencies by the state and railways. The remaining amount (₹40,777 crore) will be split between the state and railways. Of the state’s share of ₹20,389 crore, ₹12,567 crore will come from its resources, while the remaining (₹7,822crore) from the agencies in two phases – 2019 to 2024 and 2025 to 2029, according to the government resolution (GR) issued on Thursday.
The contribution of the Mumbai Metropolitan Region Development Authority (MMRDA), which is developing the city’s Metro network, will be the highest (₹3,635.30 crore), followed by City and Industrial Development Corporation (Cidco) (₹1,794.30 crore), Brihanmumbai Municipal Corporation (BMC) (₹1,794.30 crore) and Navi Mumbai Municipal Corporation (NMMC) (₹598.10 crore).
A railway official said earlier the state had asked MMRDA to fund MUTP-2, but later Cidco, too, was asked to chip in as the 12-coach trains on Harbour line obtained under the project would help the area under its jurisdiction. “The state agencies were reluctant to fund the project then,” said a railway officer. Railway officials are sceptical about the speedy implementation of the project. According to them, MUTP-3 was delayed because the Mumbai Rail Vikas Corporation (MRVC), a joint body formed by the state and railways to implement infrastructure projects, failed to get a loan in time.
The GR says the state wants the railways to pay the excess amount collected through the surcharge that would be levied for the project. The government also wants that the railways to give 50% fund from the sale of the land to it.
First Published: Dec 07, 2018 00:51 IST