State seeks funds to augment Mumbai’s public transport

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Source:  timesofindia.indiatimes.com

The state government wants the World Bank (WB) to fund projects for improvement of the public transport network in Mumbai. It has sought financial assistance for Metro, monorail projects, the Nhava-Sewri trans harbour link and projects for upgradation of the suburban railway network.

Delhi MetroThe demands were made during meetings—one at the MMRDA headquarters in BKC and another at Mantralaya— held with World Bank delegates on Monday.

The government has requested the WB to partially fund future Metro and monorail corridor projects . While the project, totally valued at Rs 40,000 crore, is proposed to be implemented on a built-operate-transfer (BOT) basis , the government has requested the WB to loan the amount meant to be arranged by the state as viability gap funding for the projects. During the meeting at Mantralaya , an in-principle acceptance of this request was sought.

Senior MMRDA officials revealed that funding assistance was also sought for the trans harbour link project. During the Mantralaya meeting, officials also asked the WB to continue funding projects planned for augmenting the railway network. The global bank has already lend monetary assistance for first two phase of the Mumbai Urban Transport Project. Even as the work of the first two phases is yet to be entirely completed, the government , on Monday, requested the bank’s assistance for phase 3, which involves setting up 800 km of additional railway tracks and purchase of 200 more trains.

Apart from Mumbai projects, the government also sought help for rural water supply improvement and health projects, an official said

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