Maharashtra okays Rs 500 billion for infrastructure projects in Mumbai
ECONOMY & POLICY

Maharashtra okays Rs 500 billion for infrastructure projects in Mumbai

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)

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)

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code