MUMBAI: The Mumbai Metropolitan Regional Development Authority (MMRDA) is talking to Maharashtra government for financial assistance for servicing the proposed Japan International Cooperation Agency (JICA) loan for the underground metro project connecting downtown Colaba with Seepz in the north via Bandra.
“As per the project, the revenue generated through toll collection will be enough to recover the operational and maintenance costs. But interest cost will not be covered through this. Therefore, we are seeking state assistance for servicing the proposed loan,” Authority’s commissioner Rahul Asthana said.
“In other states, the government provides assistance in the form of interest cost or by providing land. State participation is important in such projects,” he noted.
Asthana further said he will meet the officials of the Planning Commission, and Union Urban Development and Economic Affairs Departments in New Delhi next Monday to appraise them of the project. More info