A memorandum of understanding was signed between the Mumbai Railway Vikas Corporation (MRVC) and its development agencies for the implementation of railway expansion projects under the Mumbai Urban Transport Project (MUTP-III). MUTP-III was sanctioned by the ministry of railways at a cost of ₹10,947 crore in February 2017. Mumbai Metropolitan Region Development Authority (MMRDA) and the City Industrial Development Corporation (CIDCO) are signatories to the subsidiary finance agreement with MRVC. The latest pact will accelerate the execution of projects, including the laying of a 28km suburban line between Panvel-Karjat (₹2,783 crore), construction of a 3.5km elevated line between Airoli-Kalwa (₹476 crore), quadrupling of a 63km line between Virar-Dahanu (₹3,578 crore), procurement of 47 rakes (₹3,491 crore) and trespass control (₹551 crore). The state government approved the project through MRVC on the lines of MUTP-I and II with 50:50 financial participation.
📅Published on:
13 July 2020
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