+
CIDCO gets financial closure for Navi Mumbai metro line
RAILWAYS & METRO RAIL

CIDCO gets financial closure for Navi Mumbai metro line

The City and Industrial Development Corporation (CIDCO), the Maharashtra government’s town planning and infrastructure development authority, has achieved financial closure for its metro project in Navi Mumbai by securing a line of credit worth Rs 5 billion from ICICI Bank.

The Navi Mumbai Metro Line-1 project is a three-coach metro train. The length of the Belapur-Pendhar Line-1 is 11.1 km and it comprises 11 stations. The viaduct for this project is completed and out of the 11 stations, five are ready to be commissioned. All necessary clearances have been obtained for this line. Work on the remaining six stations is in full swing and the complete line is expected to be commissioned soon.

“Due to Rs 500 crore line of credit facility from ICICI Bank, works of Line No. 1 will be expedited and it will be possible to travel on this line as soon as the works are completed within the scheduled time. The line of credit sanctioned has in a way put a stamp on the credibility of CIDCO's projects,” said Sanjay Mukherjee, vice chairman and managing director, CIDCO.

The estimated cost for the Metro Line-1 is Rs 34 billion, out of which Rs 26 billion are already infused by CIDCO, Rs 5 billion will come from the bank line of credit, and the remaining will be from CIDCO’s internal accruals.

See also:
BHEL-Titagarh, Alstom among 5 bidders for Vande Bharat
MMRC achieves new breakthrough on Metro 3


The City and Industrial Development Corporation (CIDCO), the Maharashtra government’s town planning and infrastructure development authority, has achieved financial closure for its metro project in Navi Mumbai by securing a line of credit worth Rs 5 billion from ICICI Bank. The Navi Mumbai Metro Line-1 project is a three-coach metro train. The length of the Belapur-Pendhar Line-1 is 11.1 km and it comprises 11 stations. The viaduct for this project is completed and out of the 11 stations, five are ready to be commissioned. All necessary clearances have been obtained for this line. Work on the remaining six stations is in full swing and the complete line is expected to be commissioned soon. “Due to Rs 500 crore line of credit facility from ICICI Bank, works of Line No. 1 will be expedited and it will be possible to travel on this line as soon as the works are completed within the scheduled time. The line of credit sanctioned has in a way put a stamp on the credibility of CIDCO's projects,” said Sanjay Mukherjee, vice chairman and managing director, CIDCO. The estimated cost for the Metro Line-1 is Rs 34 billion, out of which Rs 26 billion are already infused by CIDCO, Rs 5 billion will come from the bank line of credit, and the remaining will be from CIDCO’s internal accruals. See also: BHEL-Titagarh, Alstom among 5 bidders for Vande BharatMMRC achieves new breakthrough on Metro 3

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code