‘Mumbai can become a globally competitive market’

SVR Srinivas, a 1991 batch IAS officer, who recently took charge as MMRDA Commissioner speaks to The Free Press Journal, outlining his vision and priorities for the agency

Q: What will be your biggest challenge?

A: The biggest challenge would be making this metropolitan region competitive globally. In the MMR, the fulcrum or centre is Mumbai. We will make it most competitive in Asia and globally. For that, a couple of things would be required; one is infrastructure which MMRDA is developing, and also to bring IFSC (International Financial Services Centre) here. So apart from infrastructure projects, if we bring that then the dream perhaps will be realised sooner or later.

Q: So you will be pushing for the controversial IFSC centre at BKC?

A:

Mumbai has that ecosystem and it can still become one of the most competitive markets globally. I won't talk much on it now. Q: Which projects are a priority?

A: There are some immediate priorities and some short to medium term priorities. The highest priorty projects are completing the ongoing infrastructure projects, which includes Metro Line 2A and 7 and MTHL. MTHL includes the Worli-Sewri connector, the work on which we are starting soon. Metro Line 2A and 7 and MTHL are transformative and will be game-changing.

The Worli-Sewri Connector is very important for me personally, because it links our coastal road to MTHL. The entire western region traffic is supposed to go to MMR through that. It was part of the comprehensive study of MMRD that MMRDA had done and I was part of it a long time back. They are not just projects. MTHL and Metro are the biggest local economic developmental factors.

Q: Will these projects be completed within an expected timeline?

A:

I have taken a review on day one, and most of these metro lines have been delayed. All these projects are almost over 5 years old. So the effort would be to complete them as early as possible. Similarly, MTHL is also running behind schedule, and I want to get it back on track. The objective would be to work in that direction.

Q: How are you planning to mobilize funds for the projects?

A: Taking up these projects smoothly requires huge funds. An important revenue source for MMRDA has always been land monetization. Land is available at BKC, but there should also be other ways of generating revenue. I will be exploring that very soon. As for capital expenditure projects, we require different levels of funding, cash flow and for that, efforts have to be made and I will be doing that with the help of the state government of course. Moreover, land is limited so there should be multiple ways of raising funds. This will reduce risk. Diversification of sources of funding is necessary.

There are some immediate priorities and some short to medium term priorities. The highest priorty projects are completing the ongoing infra projects, which includes Metro Line 2A and 7 and MTHL –MMRDA COMMISSIONER

Q: What are your plans to revive the monorail project?

A:

Definitely, we are concerned about it. Monorail is a moot point. I have kept a detailed discussion on it this Friday. I am well aware it has issues. If we don't use it, that means it is not useful, and if we do it also, how much revenue will it generate? These are the core issues. We will come out with reasonable alternatives for this

Q: What about the Kanjurmarg car shed plan? A:

We are thinking of the hub of the metro crashed there, and we require that land. The Chief Minister is also very keen about it, so we have put it up technically. That land is required for metro line 14 as well as for lines 3 and 6, so it’s very important. Definitely a solution will come out and I will do it if needed from our end. It is a priority for timely completion of ongoing metro projects associated with it.

Q: Any comment on Aarey Metro Bhavan? A: I will be discussing it with the state gover nment soon