WB to finance Rs. 14,549-cr Mumbai Metro

Injecting a major financial booster to the Phase-IV of the Mumbai Metro, the World Bank has reportedly agreed to finance the planned Wadala-Ghatkopar-Thane-Kasarvadavli Metro line. Negotiations to implement the Metro IV project, with financial assistance from the WB, are already heading in positive direction, said Mumbai Metropolitan Region Development Authority (MMRDA) sources, adding that of the estimated Rs. 14,549-cr project cost, 48% will be borrowed from the WB. The balance 52% will be borne by the state government and the development authority. This 33 km line will have 32 stations and a car depot has been proposed on a plot of 30 hectares at Owale on Ghodbunder Road in Thane. Currently, the mega project is awaiting the state cabinet's nod which is expected very shortly. The ground work has already commenced for two other Metro rails – Dahisar-Andheri and Dahisar-DN Nagar. Earlier, the Wadala-Ghatkopar-Thane-Kasarvadavli line was planned as partially underground, with an estimated cost of Rs. 19,097cr. The deadline likely to be worked out to complete and launch the project for public use is 2021.