Mrs Pratibha Patil, President of India, laid the foundation stone on 18 August 2009, for the Rs 8,250 crore Phase II of the metro rail project from Charkop to Mankhurd via Bandra.
The 32-km elevated corridor will have 27 stations en route. The MMRDA is to implement the project on BOT basis along with Reliance Infrastructure and SNC Lavin of Canada.
The project is expected to be commissioned by 2014 and will have a concession period of 35 years.
In a related development, the Ministry of Urban Development has said that the Union Government is willing to participate in the equity of the project as the viability gap funding for such a big project will not be easy.
The government has also offered to invest 50 per cent equity in the Rs 10,000 crore Mumbai Metro Phase III project. Besides, it will facilitate a concessional loan from Japan Bank for International Cooperation and Rs 1,000 crore subsidised debt.
Source : ProjectsToday
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