Mumbai Metro Phase 3 set in motion
Mumbai | August 26, 2014
Maharashtra Chief Minister Mr. Prithviraj Chavan said Mumbai Metro Phase III is among the most expensive metro projects taken up in the country. He said, Mumbai’s city geography did not permit laying of an surface metro track, the entire phase III project had to be planned as an underground metro. The estimated cost of the project is Rs 23,136 crores and is expected to be completed between 4-7 years.
The 32.5 km long Mumbai Metro Phase III connects Cuffe Parade in South Mumbai with SEEPZ, Andheri traversing mostly through areas not served by the Mumbai Suburban Train Service. It will connect South Mumbai with Bandra-Kurla Complex (BKC) and the domestic and international terminals of the Chhatrapati Shivaji International Airport, via Churchgate, CST (Chhatrapati Shivaji Terminus), Girgaum, Worli, Prabhadevi and Dharavi.
The Metro will have all the other usual features like fully air-conditioned coaches, automatic fare collection, escalators for entry and exit, two level concourse and platforms etc. The construction of tunnels will be done by Tunnel Boring Machines. When fully operational, it will reduce the travel time from Cuffe Parade to airport to 40-50 minutes against 90-100 minutes by road.
The 23,136 crore Metro project will be substantially funded by Japan International Cooperation Agency (JICA) in the form of soft loan to the extent of Rs 13,325 crores. The share of Central Government in the form of equity and debt is Rs 3,428 crores and that of the state government is Rs 4,017 crores. The project will be executed by Mumbai Metro Rail Corporation in collaboration with Mumbai Metropolitan Region Development Authority.
Deputy Chief Minister of Maharashtra Ajit Pawar, Maharashtra ministers Jayant Patil, Suresh Shetty, Naseem Khan, Varsha Gaikwad and MPs Kirit Somaiya ,Gajanan Kirtikar and Union Minister Venkaiah Naidu were among those present.