Mumbai: In a major move to bolster Mumbai’s urban transport infrastructure, the Maharashtra government has approved a loan guarantee for six vital Metro corridors being developed by the Mumbai Metropolitan Region Development Authority (MMRDA). This decision, taken at a recent cabinet meeting chaired by the Chief Minister, will enable MMRDA to secure funding from international financial institutions and ensure uninterrupted progress of the projects.
Details On Metro Projects Included
According to a Times of India report, the six Metro corridors include Metro Line 5 (Thane–Bhiwandi–Kalyan), Metro Line 6 (Swami Samarth Nagar–Vikhroli), Metro Line 9 (Dahisar East–Mira Bhayandar), Metro Line 10 (Gaimukh–Shivaji Chowk, Mira Road), Metro Line 11 (Wadala–CSMT) and a 3.3-km underground extension of Metro Line 7 from Gundavali to the Chhatrapati Shivaji Maharaj International Airport via Marol.
These projects are in various stages of development, ranging from construction to advanced planning and include both elevated and underground sections. The combined cost of all six corridors exceeds Rs 36,000 crore, making international funding indispensable. With the cabinet's clearance, MMRDA can now approach multilateral agencies like the Asian Infrastructure Investment Bank (AIIB) and the Asian Development Bank (ADB) for loans.
Loan Repayment To Be Done Solely By MMRDA
However, the entire responsibility for loan repayment, including interest and associated liabilities, will rest solely with MMRDA. The state government will serve only as a guarantor to facilitate the borrowing process, helping MMRDA meet the eligibility norms required by global lenders.
According to the report, officials stated that the loan guarantee was critical to prevent delays and cost escalations, which could have otherwise hampered the metro expansion plan. The state backing ensures that tendering, contracting, and construction activities can continue smoothly without financial interruptions.
Metro Lines To Ease Traffic Congestion In & Around Mumbai
These Metro lines form a crucial part of MMRDA’s vision to create a 300-km metro network across the Mumbai Metropolitan Region by the end of the decade. Metro Lines 5, 6 and 9 are expected to ease traffic in the densely populated central and western suburbs.
Lines 10 and 11 will boost connectivity in the rapidly growing Mira-Bhayandar and south Mumbai regions. Meanwhile, the Gundavali–CSMIA extension will provide a much-needed direct airport link from the western suburbs. Once operational, the corridors are projected to serve lakhs of daily commuters and reduce road congestion across the city.
