The Mumbai Metropolitan Region Development Authority (MMRDA) might withdraw its fixed deposit of ₹13,000 crores if the loan of ₹29,000 crores does not come through in the next six months.
The planning agency has ₹1.25 lakh crore tied up in 12 Metro corridor projects including ₹60,000 crores in seven under-construction lines and three that are in different stages of planning. Another major project is the Mumbai Trans Harbour Link estimated to cost around ₹23,000 and likely to be completed by 2022.
All of these projects happen to be capital heavy. However, due to the coronavirus-induced economic slowdown, the MMRDA has been suffering intensely. As per reports, if the economy does not pick up substantially, then the MMRDA might have to tap into their fixed deposits.
On the other hand, Mumbai’s operational metro corridor, Metro one, built on public-private partnership, with Anil Ambani’s Reliance Infrastructure may be taken over by MMRDA.
The MMRDA has been working on 10 metro corridors across Mumbai, but none of them has been on the public-private partnership model. Currently, the corridor has connectivity with the Western Railways at Andheri and Central Railways at Ghatkopar. In 2021, it is touted to have connectivity at DN Nagar on Link Road and Western Express Highway station in Andheri east.
Share
Tweet
