MIAL to contribute Rs 777 crore to Metro-III

MIAL to contribute Rs 777 crore to Metro-III

FPJ BureauUpdated: Friday, May 31, 2019, 10:25 PM IST
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Mumbai : The Mumbai Metro Rail Corporation (MMRC) and Mumbai International Airport Ltd (MIAL) signed a Memorandum of Understanding for participation and contribution of Rs 777 Crore by MIAL towards construction and operation of stations connecting the domestic and international terminals on the Metro-III corridor. The 33.5-km Colaba-Bandra-SEEPZ corridor will help connect a much-needed airport link via mass transit system.

The three underground stations will be at Sahar Road, Santacruz (domestic terminal) and Terminal T2 (international airport) on the corridor. “MIAL has decided to provide funds to the tune of Rs 777 Crore to MMRC for construction and operation of Metro-3 stations at Sahar Road, Santa Cruz and terminal T2 international airport, which will provide easy access to Airport,” a statement from MMRC read.

According to MMRC, the Airport Authority of India (AAI) through MIAL will also provide required land for construction to MMRC and co-ordinate activities during the construction and operation of Metro-3 stations. The statement added, “MoU has been inked between two parties for provision of funds, land and appropriate participation by MIAL for construction and operation of Metro-3 stations in the vicinity of airport.”

Currently, only connectivity to airport terminals is through road transport, causing the airport road to be jammed during peak hours. “Currently, travelling to the airport is a difficult task and has people depending solely on taxis for the access.  Metro-III will bring down the costs of accessing airports to a fraction of the taxi fares. Similarly, catching connecting flights by switching from international to domestic circuits or vice versa would also become much easier,” said Ashwini Bhide, Managing Director, MMRC.

The MMRC is expected to issue work order to start the construction of the corridor, which is estimated to cost Rs 23,000 crore, by October; while the corridor is expected to be operational by 2020 and carry 13.9 lakh commuters daily in 2020 and 17 lakh by 2031.

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