The Maharashtra government on Sunday approved bank guarantees and loan-related sanctions for four projects — Metro 2A ( Dahisar to DN Nagar), Metro 2B ( DN Nagar-Bandra-Mankhurd), Metro 4 (Wadala Ghatkopar Mulund Kasaravadavali) and Metro 7 covering (Dahisar East-Andheri East).(HT)
The Maharashtra government on Sunday approved bank guarantees and loan-related sanctions for four projects — Metro 2A ( Dahisar to DN Nagar), Metro 2B ( DN Nagar-Bandra-Mankhurd), Metro 4 (Wadala Ghatkopar Mulund Kasaravadavali) and Metro 7 covering (Dahisar East-Andheri East).(HT)

Maharashtra approves bank guarantees, loan sanctions for four Metro projects

The cabinet also allowed the use of a plot reserved for playground to build an underground station for Metro 3
By Faisal Malik | Hindustan Times, Mumbai
UPDATED ON JUL 24, 2017 01:33 AM IST

In a boost to the Mumbai Metro, the Maharashtra government on Sunday approved bank guarantees and loan-related sanctions for four projects — Metro 2A ( Dahisar to DN Nagar), Metro 2B ( DN Nagar-Bandra-Mankhurd), Metro 4 (Wadala Ghatkopar Mulund Kasaravadavali) and Metro 7 covering (Dahisar East-Andheri East). The cabinet also allowed the use of a plot reserved for playground to build an underground station for Metro 3.

These decisions were cleared in the cabinet meeting held on Sunday, on the eve of the monsoon session of the Maharashtra legislature.The state cabinet approved bank guarantee for Metro 4 being funded by Asian Infrastructure Investment Bank. It has further decided to provide a debt sustainability certificate (DSC) to three other Metro projects — Metro 2A, 2B and 7 being funded by the Asian Development Bank (ADB).

The cost of Metro 4 is Rs14,549 crore, while the cost of the rest of the three projects is Rs6,410 crore, Rs10,986 crore and Rs6,208 crore respectively. The DSC is mandatory to sanction externally aided projects that are to get funding from multilateral agencies like the ADB and World Bank.

The bank guarantees and the debt sustainability certificates from the state government to the Metro projects will help formalise loan agreements for four of the Metro corridors with international funding agencies. Only after the loan agreements are inked, one can say the financing of these projects is complete. This will also ensure that work on the Metro projects is not held up for want of money.

“We plan to complete Metro 7 and Metro 2A by the 2019 Assembly elections. While civil work is being funded by the MMRDA, financing for the rolling stock, signaling systems etc is possible only through the loan. So formalising these loan agreements is important for us,’’ said a senior state government official.

For the fully underground Metro 3 project, a 554-sqm plot located at Tardeo currently reserved as a playground was required to develop an underground ‘Grant Road’ station.

As the plot was reserved for a playground, it required the government’s approval to build an underground station.

The cabinet approved the proposal speeding up work on the Metro 3 corridor as well. This corridor is likely to be completed by 2020-21.

Metro-3 is a 33.5-km underground corridor that will link Colaba-Bandra-SEEPZ in Andheri (East). The length of the corridor is marked with 27 key stations and except one all its stations will be underground. The cost of the project is Rs23,136 crore.

Read

Mumbai metro-3: Shiv Sena rejects BJP’s proposal to give 4,000 sqm plot at Andheri

SHARE THIS ARTICLE ON
Close
Rao, arrested in 2018, was admitted to the medical facility in November last year due to ill health.
Rao, arrested in 2018, was admitted to the medical facility in November last year due to ill health.

Varavara Rao goes home on bail after release from hospital

By HT Correspondent | Agencies, Hindustan Times, Mumbai
PUBLISHED ON MAR 08, 2021 03:00 AM IST
  • The 82-year-old activist, who was granted interim bail for six months on medical grounds by the Bombay high court on February 22, was discharged from the private hospital late Saturday night, they said.
Close
HT Image
HT Image

Hiren Mansukh death: ATS registers case of murder

By Manish K Pathak and Anamika Gharat, Mumbai
PUBLISHED ON MAR 08, 2021 01:24 AM IST
The Maharashtra anti-terrorism squad (ATS) has registered a case of murder against unknown persons in connection with the suspicious death of Mansukh Hiren, 48, who was found dead in Kalwa creek on March 5, hours after his family reported he was missing
Close
 (HT)
(HT)

International women’s day: The women in Maharashtra’s politics

By Eeshanpriya M S, Mumbai
PUBLISHED ON MAR 08, 2021 01:21 AM IST
HT takes a three key women leader – NCP MP Supriya Sule; Rashmi Thackeray, the chief editor of Saamana, mouthpiece of Shiv Sena; and BJP national secretary and former state minister Pankaja Munde
Close
Students in a classroom in a school in Kasheli village, Bhiwandi, which reopened after a year in February. (HT FILE)
Students in a classroom in a school in Kasheli village, Bhiwandi, which reopened after a year in February. (HT FILE)

One year of Covid-19: Online mode - a big lesson for education system

By Ankita Bhatkhande, Mumbai
PUBLISHED ON MAR 08, 2021 01:00 AM IST
As online became the only mode of learning during the lockdown months of 2020, the stark inequalities of class, caste and gender became visible, as thousands of children were forced out of the education system, and thousands more faced learning setbacks.
Close
Ajit Pawar. (Hindustan Times)
Ajit Pawar. (Hindustan Times)

Maharashtra: MVA govt all set to present its second budget today

By Surendra P Gangan, Mumbai
PUBLISHED ON MAR 08, 2021 12:56 AM IST
Deputy chief minister and finance minister Ajit Pawar will on Monday present the Maharashtra Vikas Aghadi’s second budget, which is expected to register a revenue deficit of more than 1 lakh crore against the estimated revenue generation of 3,47,457 crore, in the backdrop of the Covid-19 pandemic and months-long subsequent lockdown
Close
Aviation sector was severely affected last year with a two-month halt in flights followed by restrictions on domestic and international operations. (HT FILE)
Aviation sector was severely affected last year with a two-month halt in flights followed by restrictions on domestic and international operations. (HT FILE)

Aviation sector awaits successful vaccination drive; crawls towards normalcy

By Neha LM Tripathi, Mumbai
PUBLISHED ON MAR 08, 2021 12:54 AM IST
Experts said the ministry of civil aviation is estimated to create 1,058 jobs this month which signals growing optimism in the industry.
Close
Sanjay Raut. (HT Photo)
Sanjay Raut. (HT Photo)

Maharashtra: Topic of emergency should be buried once and for all, says Shiv Sena

By Swapnil Rawal, Mumbai
UPDATED ON MAR 08, 2021 01:18 AM IST
The Shiv Sena on Sunday said the topic of India’s Emergency of 1975 is “outdated” and must be “buried once and for all”, as the current situation in the country is much worse
Close
A total of <span class='webrupee'>₹</span>19.9 lakh was collected as fine from the passengers. (HT FILE)
A total of 19.9 lakh was collected as fine from the passengers. (HT FILE)

Mumbai: Over 11,000 railway passengers fined for not wearing mask

By Aroosa Ahmed, Mumbai
PUBLISHED ON MAR 08, 2021 12:51 AM IST
On Western Railway, 5,530 passengers were booked till March 6. On Central Railway, 6,177 passengers were fined. A total of 19.9 lakh was collected as fine from the passengers.
Close
Raj Thackeray. (HT PHOTO)
Raj Thackeray. (HT PHOTO)

U-turn by Maharashtra Navnirman Sena: Raj says revive Nanar to get jobs for locals

PUBLISHED ON MAR 08, 2021 12:46 AM IST
In a complete U-turn, Maharashtra Navnirman Sena (MNS) chief Raj Thackeray, has demanded revival of the refinery petrochemical project at Nanar in Ratnagiri, which was scrapped by the previous Fadnavis government in 2019 after all political parties other than the Bharatiya Janata Party opposed it
Close
Employees sanitise a classroom. (HT FILE)
Employees sanitise a classroom. (HT FILE)

Maharashtra: Professional course institutes grapple with time crunch to finish syllabus

By Shreya Bhandary, Mumbai
PUBLISHED ON MAR 08, 2021 12:45 AM IST
Delay in admissions to professional courses this year has led to serious trouble not only for students, but also colleges. Colleges have been grappling with separate class and exam schedules for their first-year batches as compared to rest of the batches.
Close
A health worker wearing PPE kit sanitises a luggage of a passenger at Dadar station in Mumbai. (Bhushan Koyande/ HT Photo)
A health worker wearing PPE kit sanitises a luggage of a passenger at Dadar station in Mumbai. (Bhushan Koyande/ HT Photo)

Mumbai crosses 1,300 new Covid cases mark after October

By Eeshanpriya MS, Mumbai
PUBLISHED ON MAR 08, 2021 12:42 AM IST
Mumbai’s case tally stands at 333,569, of which 9,319 are active, with recovery rate of 93%; 4 deaths take toll to 11,504.
Close
For representational purposes only. (HT FILE)
For representational purposes only. (HT FILE)

Mumbai: Lab operator arrested over false Covid -19 report

By Manish K Pathak, Mumbai
PUBLISHED ON MAR 08, 2021 12:37 AM IST
Shivaji Nagar police arrested a pathology lab owner on Friday for allegedly giving a forged negative report to a 71-year-old Covid-19 patient.
Close
The Shakti bill has provisions of stricter punishment for heinous crimes like rape, acid attack, social media abuse against women and children.
The Shakti bill has provisions of stricter punishment for heinous crimes like rape, acid attack, social media abuse against women and children.

Shakti bill delayed further as govt seeks time for deliberation

By Surendra Gangan, Mumbai
PUBLISHED ON MAR 08, 2021 12:36 AM IST
The Shakti bill which has the provisions of stricter punishment for heinous crimes like rape, acid attack, social media abuse against women and children is likely to be delayed again at least by four months
Close
Republic TV’s editor-in-chief Arnab Goswami. The channel has refused to comment. (HT FILE)
Republic TV’s editor-in-chief Arnab Goswami. The channel has refused to comment. (HT FILE)

TRP manipulation case: Republic TV not termed accused, says Mumbai Police

By HT correspondent, Mumbai
PUBLISHED ON MAR 08, 2021 12:35 AM IST
The Mumbai Police, in its affidavit in response to the rejoinder filed by ARG Outlier Media Pvt Ltd, which runs Republic TV and other channels, seeking to quash the FIR and charge sheet against its employees in the alleged TRP manipulation case, said that the petitioner is attempting to get the probe transferred to CBI though it is not named as an accused in the case.
Close
 (Getty Images/iStockphoto)
(Getty Images/iStockphoto)

Amid Covid-19 women in science juggle with chores, childcare, research

By Priyanka Sahoo, Mumbai
PUBLISHED ON MAR 08, 2021 12:26 AM IST
The Covid-19 pandemic and the subsequent lockdown amplified challenges faced by women
Close
SHARE
Story Saved
OPEN APP