In a boost to the Mumbai Metro master plan, the German Federal Ministry for Economic Cooperation and Development (BMZ) along with KfW, a German government-owned development bank, has approved a loan worth ₹4,000 crore for the Mumbai Metro-4 (Wadala-Thane-Kasarvadavli) and 4A (line 4 extension till Gaimukh). The rate of interest for the loan is less than 1%.
The loan, said to be the highest amount issued by the company for an Indian project, will be utilised for procuring rolling stock, implementing the integrated ticketing system and multimodal integration for the 35-km line expected to cost a total of ₹15,000 crore. The civil construction cost for the project will be borne by the Mumbai Metropolitan Region Development Authority (MMRDA).
The agreement between KfW and the Maharashtra government was sealed on Friday at Sahyadri Guest House at Malabar Hill. Chief minister Uddhav Thackeray attended the meeting virtually.
“It is a big day for us. The travelling experience of Mumbaiites will be enriched once the entire Metro network is complete,” said Thackeray. State urban development minister Eknath Shinde said that the Maharashtra government is committed to completing the project on time. The line is expected to be completed in October 2022. While 20% of the Metro-4 work has been completed, Metro-4A has achieved 6% progress.
RA Rajeev, MMRDA commissioner said, “MMRDA has built a reputation over the years by successfully completing infrastructure projects and simultaneously meeting all financial commitments, even during the pandemic.”
MMRDA is implementing a Metro network of 337km in the Mumbai Metropolitan Region. Currently, 180km of construction is in progress.
Kanjurmarg plot belongs to Maha: Shinde
Shinde on Friday said that the Kanjumarg plot, where the Uddhav Thackeray-led Maharashtra Vikas Aghadi (MVA) government has planned to construct the Metro-3 (Colaba-Bandra-Seepz) car shed, belongs to Maharashtra. The Central government has contested the state government’s claim on the plot. Shinde said, “We are not stopping works at the site. The land belongs to the Maharashtra government, and soil testing works have started at the plot.”
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