Mumbai Urban Transport Project

Asian Development Bank

Niti Aayog

The state government on Wednesday issued a government resolution (GR) giving its nod to Rs 54,777 crore worth of projects which are part of the(MUTP) 3A, including the ambitious CSMT-Panvel elevated fast corridor.According to the existing plan, about Rs 14,000 crore of the entire project cost will be raised through loans from various banks while the remaining Rs 40,777 crore will be on a 50:50 cost-sharing basis between the state and the Indian Railways (IR). Mumbai Railway Vikas Corporation (MRVC) which is the nodal agency is all set to approach a consortium of banks, including the New Development Bank (NDB) and the, for the loan.The state government’s share in the project will be about Rs 27,389 crore which will be split among various government agencies.The GR is the first step towards getting approvals for the project. The next involves sending a proposal for sanction from the Railway Board,, the external railway board and finally inter-ministries for consultation before a cabinet note is prepared and put before the cabinet at the Centre for its nod.The GR issued by Maharashtra government also specifies the rehabilitation and relocation that the project will entail.Chairman and Managing Director of MRVC, RS Khurrana said, “We are now preparing to send a proposal to the Railway Board.”The 21.3 km long CSMT-Panvel corridor which will have 11 stations of which eight will be elevated is estimated to have a ridership of eight lakh by 2021 which is then expected to rise to 13 lakh by 2041.