Viraralibaug corridor in fast lane? ₹14Kcr sought from World Bank
MMRDA’S request for loan was preceded by Fadnavis’ meeting with bank CEO
MUMBAI: After chief minister Devendra Fadnavis pitched for financial assistance from the World Bank for the Virar-alibaug Multimodal Corridor (VAMC), the Mumbai Metropolitan Region Development Authority (MMRDA) has sought a loan of ₹14,000 crore from the international financial institution for the mega project.
The 128-km road is proposed to have eight lanes, a Metro corridor in the median, several flyovers, bridges, underpasses, overpasses and growth centres. It aims to decongest Mumbai and turn its neighbouring towns into business hubs.
The department of economic affairs (DEA) has given its go-ahead to MMRDA, the implementing agency, for seeking financial assistance.
A DEA approval is required for seeking loans from multilateral financial institutions.
Fadnavis, who is on a threenation tour, met World Bank CEO Kristalina Georgieva in Washington DC, US, on Thursday. In the meeting, Fadnavis sought funds from Georgieva for the Virar-alibaug corridor. She assured Fadnavis of a positive consideration for the project.
“We have got an in-principal nod from the DEA. We are seeking a loan of ₹14,000 crore. The World Bank would now include the project in their annual roll and intimate us,” said Sanjay Khandare, additional metropolitan commissioner, MMRDA.
According to Khandare, the World Bank has asked the MMRDA to divide construction into five packages of ₹2,000 crore each.
The MMRDA had earlier planned to build the eight-lane road in two phases: a 98.5-km highway between Navghar and Balavali; and another 29.9km
AN ARTIST’S IMPRESSION OF THE CORRIDOR
TWO-PHASED PROJECT
PHASE 1
km highway between Navghar and Balavali
cr
km highway between Balavali and Alibaug MMRDA is yet to arrive at the cost However, the World Bank has asked the state to divide the entire project in five phases
CURRENT STATUS
MMRDA has sought a loan of ͈14,000 crore from the World Bank.
between Balavali and Alibaug. The estimated cost of the Navghar-balavali road is ₹23,000 crore. The MMRDA is yet to peg the cost of phase 2.
The tenders are likely to be invited by the end of the year. In
THE CORRIDOR IS LIKELY TO HAVE
8 lanes
Metro on the entire corridor 72 bridges
21 flyovers
2 overpasses
2 rail over bridges 35 vehicular underpasses 4 pedestrian underpasses 10 interchanges
5 tunnels It will issue tenders by the end of the year. Meanwhile, the agency will acquire land
the interim, the MMRDA will acquire land for the project, a senior MMRDA official said.
The corridor, which was proposed in 2010, envisages to provide connectivity to towns such as Panvel, Bhiwandi, Virar, Kalyan,
WHY IT MATTERS
The Virar-alibaug Multimodal Corridor will skirt Mumbai and pass through 32 villages
It aims to make Mumbai’s neighbouring areas part of the growth story by boosting connectivity and building new business hubs
MMRDA feels that the corridor will reduce congestion in Mumbai
The corridor will have interchange nodes with several national highways Pen, Uran and Alibaug.
Passing through 32 villages, the corridor will have interchange nodes with several highways such as Mumbai-ahmedabad highway (NH-8), Mumbaiagra (NH-3), Mumbai-pune Expressway and Mumbai-goa (NH-17). The Metro corridor will be built in phases. The multimodal corridor is likely to have 72 bridges, 21 flyovers, two overpasses, 35 vehicular underparsses, etc.