City and Industrial Development Corporation sets aside  Rs 11,000 crore for infra development

Thane: The state-run City and Industrial Development Corporation (Cidco) on Tuesday earmarked Rs 11,000 crore in its FY 20 budget for project developments under its administrative areas. The body presented a Rs 3,462-crore deficit budget, wherein it plans to spend Rs 11,260 crore on projects and will earn a revenue of Rs 7,797 crore, according to an official statement.

Projects in which the investments are likely to be made include Navi Mumbai International Airport, Navi Mumbai Metro, Nerul-Uran railway line, a housing scheme for 89,771 tenements based on the concept of transit oriented development, building a headquarters for Palghar district and a cultural complex at Kharghar. The Rs 11,000-crore bill include both the project cost and compensation to be given to project affected people.

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