The project between Dahisar to Mankhurd via Charkop and Bandra was awarded to Anil Ambani’s Reliance Infrastructure in 2009. The company – which built a world class metro between Ghatkopar to Versova after a long delay — subsequently entered into a concession agreement with Maharashtra government. But the project did not get environment clearance and right of way. There was also no clarity on land for a depot at Charkop.
Finally, in November 2013, last year, Reliance Infrastructure terminated the agreement with the government. The MMRDA board says the project will now be implemented by a new body – the Mumbai Metro Rail Corporation (MMRC) by 2019. The MMRC plans to fund the project by raising loans from international agencies, with the central government and the state government pitching in the money.
3) Metro III. Project Cost Rs 23,000 crore
Another marquee project by the MMRDA, Metro III is delayed due to lack of various envrionmental clearances and land acquisition. The foundation stone was laid on August 26, 2014 after JICA promised to lend Rs 13,000 crore. The project will be completed by 2019. More info