Maharashtra okays Rs 500 billion for infrastructure projects in Mumbai

01 Oct 2024 CW Team

One of the major initiatives is the Orange Gate to Marine Drive tunnel project, for which the government has approved an interest-free secondary loan of Rs 13.54 billion to the Mumbai Metropolitan Region Development Authority (MMRDA). The allocation includes Rs 6.14 billion for state taxes, Rs 3.07 billion to cover half of the central taxes, and Rs 4.33 billion for land acquisition. The total project cost is pegged at Rs 91.58 billion.

The cabinet has also expedited the Thane Ring Metro Rail project with a revised budget of Rs 122.2 billion. This 29-km metro line will feature 20 elevated and two underground stations.

Additionally, the Thane-Borivali underground highway project has been approved with an investment of Rs 188 billion. The six-lane highway will include a significant 11.85-km-long tunnel, designed to ease congestion between the two cities.

For the Murbe multipurpose port project in Palghar district, the cabinet appointed JSW Infrastructure as the contractor. A detailed report on technical and rehabilitation aspects will be prepared by the Central Water and Power Research Station (CWPRS) and the Central Marine and Fisheries Research Institute (CMFRI). The port, estimated at Rs 42.59 billion, will operate year-round and focus on handling captive and bulk dry cargo, creating 1,500 jobs.

The cabinet also greenlit an affordable rental housing scheme for eligible slum dwellers in Dharavi as part of the Dharavi Redevelopment Project (DRP). A comprehensive survey will be conducted to determine the number of eligible residents, and land allocation will be adjusted accordingly. The state government emphasised that the financial burden of the credit-linked subsidy should be borne by the special purpose company managing the project, ensuring no liability falls on the state.

Furthermore, concessions were approved for the MMRDA in the slum rehabilitation schemes in Ramabai Ambedkar Nagar and Kamrajnagar. MMRDA will now be allowed to pay the recalculated land premium value for 14 hectares in Kurla from the sale proceeds after project completion, eliminating the need for an upfront 25% payment. (FPJ)

With assembly elections on the horizon, the Maharashtra state cabinet has sanctioned 38 infrastructure projects, focusing on accelerating development in the Mumbai and Thane regions, alongside new housing schemes for those affected by ongoing projects. One of the major initiatives is the Orange Gate to Marine Drive tunnel project, for which the government has approved an interest-free secondary loan of Rs 13.54 billion to the Mumbai Metropolitan Region Development Authority (MMRDA). The allocation includes Rs 6.14 billion for state taxes, Rs 3.07 billion to cover half of the central taxes, and Rs 4.33 billion for land acquisition. The total project cost is pegged at Rs 91.58 billion. The cabinet has also expedited the Thane Ring Metro Rail project with a revised budget of Rs 122.2 billion. This 29-km metro line will feature 20 elevated and two underground stations. Additionally, the Thane-Borivali underground highway project has been approved with an investment of Rs 188 billion. The six-lane highway will include a significant 11.85-km-long tunnel, designed to ease congestion between the two cities. For the Murbe multipurpose port project in Palghar district, the cabinet appointed JSW Infrastructure as the contractor. A detailed report on technical and rehabilitation aspects will be prepared by the Central Water and Power Research Station (CWPRS) and the Central Marine and Fisheries Research Institute (CMFRI). The port, estimated at Rs 42.59 billion, will operate year-round and focus on handling captive and bulk dry cargo, creating 1,500 jobs. The cabinet also greenlit an affordable rental housing scheme for eligible slum dwellers in Dharavi as part of the Dharavi Redevelopment Project (DRP). A comprehensive survey will be conducted to determine the number of eligible residents, and land allocation will be adjusted accordingly. The state government emphasised that the financial burden of the credit-linked subsidy should be borne by the special purpose company managing the project, ensuring no liability falls on the state. Furthermore, concessions were approved for the MMRDA in the slum rehabilitation schemes in Ramabai Ambedkar Nagar and Kamrajnagar. MMRDA will now be allowed to pay the recalculated land premium value for 14 hectares in Kurla from the sale proceeds after project completion, eliminating the need for an upfront 25% payment. (FPJ)

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Infrastructure Energy

05 Nov 2025

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Infrastructure Urban

05 Nov 2025

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..