Active Stocks
Tue Mar 19 2024 14:41:10
  1. Tata Consultancy Services share price
  2. 3,987.05 -3.80%
  1. Tata Steel share price
  2. 149.80 0.13%
  1. Bharti Airtel share price
  2. 1,235.50 0.85%
  1. Power Grid Corporation Of India share price
  2. 260.60 -1.66%
  1. ITC share price
  2. 410.00 -1.77%
Business News/ Industry / Maharashtra govt to issue Metro 3 tenders by July
BackBack

Maharashtra govt to issue Metro 3 tenders by July

MMRCL says the work on Metro Line 3 is likely to begin in Jan 2015

Metro Line 3 is a 32.50-km long fully underground rail project with 27 stations connecting Nariman Point (Colaba) to the industrial areas of Santacruz Electronics Export Processing Zone (SEEPZ) via Bandra-Kurla Complex. Photo: Sameer Joshi/MintPremium
Metro Line 3 is a 32.50-km long fully underground rail project with 27 stations connecting Nariman Point (Colaba) to the industrial areas of Santacruz Electronics Export Processing Zone (SEEPZ) via Bandra-Kurla Complex. Photo: Sameer Joshi/Mint

Mumbai: Mumbai Metro Rail Corp. Ltd (MMRCL) on Friday said it will issue detailed tenders for Metro Line 3 by July and award the contract by October.

Metro Line 3 is a 32.50-km long fully underground rail project with 27 stations connecting Nariman Point (Colaba) to the industrial areas of Santacruz Electronics Export Processing Zone (SEEPZ) via Bandra-Kurla Complex.

Work is likely to begin in January 2015, MMRCL said in a press statement.

“We have tied up the funding for this project from Japan International Co-operation Agency (JICA), government of India and government of Maharashtra through MMRDA," said Sanjay Sethi, managing director, MMRCL and additional metropolitan commissioner at Mumbai Metropolitan Region Development Authority (MMRDA).

JICA will be funding 57% of the total project cost of Rs23,136 crore. “The government of India and government of Maharashtra through MMRDA will be bear the rest of the cost," he said.

Another Rs777 crore will be borne by Mumbai International Airport Ltd (MIAL) that runs Chhatrapati Shivaji International Airport in Mumbai, since the metro will serve the airport.

Of its 27 stations, only one—Aarey Colony, Goregaon (a Western suburb)—will be at ground level.

According to consulting firm EY, developing the transport infrastructure is critical for Mumbai, whose resident spend an average of four hours a day commuting.

The Metro-3 corridor is expected to carry 39,000 commuters per hour per direction (1.39 million commuters daily) by 2021 and 42,000 commuters per hour per direction (1.7 million commuters daily) by 2031.

Maharashtra chief minister Prithviraj Chavan on Saturday inaugurated India’s first monorail that will cut travel time between the suburban towns of Wadala and Chembur by almost half.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 21 Mar 2014, 07:41 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App