MTHL extension project: State allows MMRDA to borrow Rs 2,649 crore at 2% interest

The MMRDA is the implementing authority for the project

Sweety AdimulamUpdated: Saturday, May 21, 2022, 11:22 PM IST
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MMRDA to improve Bhiwandi roads below elevated Metro Line 5 | File Photo

The state Urban Development Department has allowed the Mumbai Metropolitan Region Development Authority (MMRDA) to borrow Rs 2,649 crore at 2 per cent interest for the proposed extension of the Mumbai Trans Harbour Sealink (MTHL) between Chirle and Mumbai-Pune Expressway. The MMRDA is the implementing authority for the project.

The UD has granted permission to borrow the funds from MCS-RF (Mega City Scheme-Revolving Fund). However, the state UDD refused to give an assurance deed from the state confirming the return of borrowed money by MMRDA to the funding agency. It clarified that the MMRDA will be solely responsible to pay the entire loan amount with interest. It further directed that the said loan should be used only for MTHL extension works.

The 22-km under construction MTHL project (nearly 16.5 km sea bridge plus approximately 5.5-km viaduct on land) comprising three plus three lanes and an emergency lane on each carriageway totals to

Rs 17,846 crore. The state has allowed MMRDA to borrow Rs 15,100 crore from JICA for this work. As the traffic disbursement from MTHL should be seamless from the Chirle-end, the MMRDA has proposed the extension of MTHL up to Mumbai-Pune expressway.

Meanwhile, the MMRDA is planning to complete the ongoing MTHL project by the end of 2023. For speedy implementation, it has divided it into four packages (three civil plus one system). Recently, it attained a significant milestone by completing 2,000 segment casting in Package 2.

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