BMC allocates Rs 10 bn to MMRDA for upgrades

The Mumbai Metropolitan Region Development Authority (MMRDA) announced that it had received Rs 10 billion from the Brihanmumbai Municipal Corporation (BMC) to facilitate the enhancement of public infrastructure in Mumbai. It was disclosed that the allocated funds would be utilized for the development of metro rail corridors. This contribution marked a portion of the total Rs 50 billion that the BMC was obligated to provide to the MMRDA, which serves as the planning authority for Mumbai and its metropolitan vicinity. It was mentioned that several multimodal projects, including a metro rail endeavor valued at Rs 198 billion, had been successfully concluded. According to the policy set forth by the Centre, it was mandated that 25% of the funding be sourced from the local municipal corporation, in this instance, the BMC. An additional 25% was anticipated to be contributed by the state government and the implementing agency. The remaining 50% of the project expenditure was slated to be procured through loans. The Mumbai Metropolitan Region Development Authority (MMRDA) disclosed that it was actively involved in the operation and construction of a cumulative 337 km of metro rail lines. At present, a segment measuring 20 km, encompassing Lines 7 and 2A between Gundavali-Dahisar-Andheri West, had commenced operations. Concurrently, efforts were underway for the construction of other metro corridors, such as Lines 2B (DN Nagar-Mandale), 4 (Wadala-Kasarvadvali), and 6 (Swami Samarth Nagar-JVLR-Kanjurmarg). Furthermore, it was revealed that MMRDA had intentions to acquire Metro-1 on the Versova-Andheri-Ghatkopar corridor from Mumbai Metro One. Approval amounting to Rs 40 billion for this acquisition had been granted by the state cabinet.