Navi Mumbai, May 12: The City and Industrial Development Corporation (CIDCO) has decided to contribute a maximum of Rs 125 crores for the extension of Palm Beach Road from Ghansoli to Airoli which will be undertaken by the Navi Mumbai Municipal Corporation (NMMC).
CIDCO took the decision following directives from Chief Minister Uddhav Thackeray and Urban Development Minister Eknath Shinde.
As per the decision, NMMC and the CIDCO will jointly bear the cost of the project and CIDCO’s share will be 50% of the Cost up to a maximum of Rs 125 crores.
“The proposed extension of Palm Beach road from Ghansoli to Airoli is a boon for reducing traffic congestion and reliable travelling for commuters from CBD Belapur to Mumbai or Thane. Thus, with an aim to stimulate this project CIDCO has decided to assist NMMC by contributing partly the cost of the project.” Dr. Sanjay Mukherjee, vice chairman and managing director of CIDCO.
CIDCO has planned Palm Beach Marg of 21.12 km length from CBD Belapur to Mulund-Thane-Mumbai via Airoli. The road consisted many minor and major bridges and was commissioned in the year 2004. This road has provided alternate routes for vehicles from CBD Belapur to Mumbai or Thane apart from existing Sion-Panvel highway and Thane-Belapur road. CIDCO had completed Palm beach road of length 19.20 km and commissioned the same from CBD Belapur to Vashi completely and Vashi to Ghansoli partly.
The completed part of Palm Beach road was handed over to NMMC and is now maintained by NMMC. Currently, the work on the stretch between Vashi and Airoli of length 1.94 km is yet to be completed and hence there is no direct access to Airoli-Mulund bridge.
The proposed extension of Palm Beach road from Airoli to Ghansoli is also part of the proposed Regional Connectivity to Navi Mumbai International Airport. Moreover, this connectivity is the part of the Coastal road from Thane to Sanpada as per the Updation of Comprehensive Transport Study for Mumbai Metropolitan Region.
NMMC had requested CIDCO to bear some part of the cost of Palm Beach extension project. Accordingly, CIDCO has approved to bear the cost as per 50:50 ratio. The cost of the project is estimated at Rs. 250 crores and CIDCO will contribute up to Rs. 125 crores.
CIDCO will contribute Rs. 125 crores for the extension of Palm Beach road and no additional amount will be given by CIDCO even if the cost of project increases. NMMC will be responsible for the preparation of thorough project report and obtaining necessary permissions. CIDCO will transfer the amount to NMMC only after the completion of Palm Beach Road extension project.