World Bank, ADB likely to fund new metro lines, says MMRDA

Hindustan Times ST (Mumbai) - - FRONT PAGE - HT Cor­re­spon­dent

We are go­ing to use the funds avail­able with us for civil works. The loan amount will be used for other as­pects of the projects such as pur­chase of rolling stock and elec­tri­cal works.

MUM­BAI: Fol­low­ing the state govern­ment’s ap­proval to two new metro lines, DN Na­gar- Mankhurd Metro 2B and WadalathaneKasar­va­davli Metro 4, the project pro­po­nent — Mum­bai Metropoli­tan Re­gion De­vel­op­ment Au­thor­ity (MMRDA) — has started work­ing on the fund­ing pat­tern of these projects. While, it has de­cided to use its own funds for ini­tial works, money for re­main­ing work will be ar­ranged through loan from global lend­ing agen­cies.

MMRDA of­fi­cials said the Asian De­vel­op­ment Bank (ADB) has as­sured par­tial-fund for the Metro 2B and the World Bank has showed in­ter­est in fund­ing Metro 4. The fi­nan­cial as­sis­tance from these banks are ex­pected to be about 43-48% of the to­tal project cost, for which they are ex­pected to levy in­ter­est of about 1.4%.

MMRDA ad­di­tional com­mis­sioner Pravin Darade said “We are go­ing to use the fund avail­able with us for civil works. The loan amount will be used for other as­pects of the projects such as pur­chase of rolling stock, elec­tri­cal works.”

In­ci­den­tally, ABD has al­ready ex­tended the loan for other two metro lines — Dahisar- DN Na­gar Metro 2A and Dahisar East- And­heri East Metro 7.

The 40-km Dahisar- Charkop­ban­draMankhurd (DCBM) Metro 2 is di­vided into two parts­dahisar to DN Na­gar (18 km), DN Na­gar to Mankhurd (22 km). Delhi Metro Rail Cor­po­ra­tion (DMRC) will build the Metro 2A and op­er­ate it. On other hand, MMRDA will just carry out civil works of Metro 2B, Metro 4 and Metro 7.

In­ter­est­ingly, DMRC will take care of tech­ni­cal works of these metro lines and later op­er­ate them.

Con­trac­tors for civil con­struc­tion of Metro 2A and Metro 7 have al­ready been ap­pointed and now, MMRDA is go­ing to in­vite ten­ders for Metro 2B and Metro 4.

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