The Central Government has approved viability gap funding (VGF) for MMRDA's ongoing Mumbai Metro-I project.
The Union government is likely to bear Rs.460 crore of the total VGP of Rs.660 crore required for the 11 km long Versova-Andheri-Ghatkopar (VAG) route. MMRDA and the Maharashtra government are expected to provide the balance amount. The private co-promoters are expected to bring in the remaining Rs.1,896 crore of the total project cost of Rs.2,356 crore.
Mumbai Metro One, a JV company formed by MMRDA, Reliance Anil Dhirubhai Ambani Group and Veolia transport, France is executing the project. While MMRDA is a 26 per cent stakeholder in the project, the rest of the equity is held by Reliance and Veolia.
Source : www.projectstoday.com
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