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MMRDA nod for Rs 6,192-cr metro link proposal
Our Bureau
Mumbai
,
Sept. 28
The Mumbai Metropolitan Region Development Authority (MMRDA) has approved the Rs 6,192-crore Charkop-Bandra-Mankhurd (CBM) line, the 31.87-kilometre link that forms part of the first phase of the Mumbai Metro Railway Project. The MMRDA will pick 26 per cent equity in the special purpose vehicle (SPV) to be floated for the metro link.
Addressing the media on Thursday after chairing the MMRDA committee meeting, the Chief Minister of Maharashtra, Mr Vilasrao Deshmukh, said that the CBM metro-link proposal would be soon placed before the State Cabinet for final approval.
Subsequently, MMRDA will invite global tenders for operators to run the link. It would be awarded on a build, own, operate and transfer (BOOT) basis. The committee also recommend that Rs 1,658 crore be borne by the Maharashtra Government, as part of its equity stake. The operator of the rail line will enter into an agreement under the SPV with MMRDA for 35 years. It will take five years to construct the line and it is likely to be completed by 2011.
Elevated Rail
The CBM link would be an elevated rail connecting the western and eastern suburbs. There would be 27 stations on the route and the rails would be 5 to 12 meters above the ground level. Transport studies have predicted that by 2011 about 12.75 lakh passengers will use the line daily, by 2021 the passenger numbers will rise to 18.77 lakhs and by 2031 it would increase to 22.16 lakhs.
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