The state-run Mumbai Metro Rail Corporation (MMRC) will invite bids for the construction of the 32.5 km-long, Rs 23,136-crore Mumbai Metro Phase-III project this week.
MMRC, a joint venture between the state and Centre, is hopeful that the construction on the proposed underground line will begin from April next year and it will be commissioned in 2020-2021.
The line will run between Cuffe Parade in South Mumbai and SEEPZ in Andheri.
A state government official told Business Standard, “MMRC is ready to float bids for the proposed Mumbai Metro-III line within a week. The foundation stone for the project was laid in August.”
The project will be financed by the Maharashtra government, the Centre and the Japan International Cooperation Agency (JICA). The share of the central government will be in the form of equity and debt at Rs 3,428 crore and the state government will bear Rs 4,017 crore. More info