NDB agrees to fund US$ 725 million for Indore Metro and MUTP-3A project

Krishtina D'Silva Posted on: 2019-12-28 11:07:21 Viewer: 483 Comments: 0 Country: China City: Shanghai

NDB agrees to fund US$ 725 million for Indore Metro and MUTP-3A project

Shanghai, China (Urban Transport News): Shanghai-based New Development Bank (NDB) which mobilises resources for BRICS nations, has agreed to fund US$725 million for upgrading the suburban railway network in Mumbai and construction of Indore Metro Rail project. Out of, US$ 500 million (nearly Rs 35500 crore) will be funded for Mumbai Urban Transport Project-3A.

According to Mumbai Rail Vikas Corporation (MRVC) officials, this fund will be used to procure 191 air-conditioned trains, set up of car sheds for these rakes, lay new lines and upgrade 19 sub-urban rail stations. These trains will run on all the four lines viz. Central, Western, Harbour, and Transharbour. The funding marked after a series of meetings held between the MRVC and NDB headed by KV Kamath in the last couple of days. “The introductory mission with New Development Bank has begun, which has agreed to fund US$ 500 million for MUTP-3A. MRVC is executing this mega project under MUTP-3A.

The fund will help in laying new tracks on the Central and Western lines and construction of dedicated car sheds for the AC locals which will come up at Vangaon and Bhivpuri. The car shed will be developed on 30 hectares of land which will also have maintenance facilities. Presently, the Mumbai’s suburban network has a total of 6 car sheds out of which three on the Central line at Kurla, Sanpada, and Kalwa, and the rest on the Western line at Mumbai Central, Kandivali and Virar.

Under the Mumbai Urban Transport Project-3A (MUTP-3A)-

  • The Harbour line will extend from Goregaon station to Borivali. This 7-km line on the Goregaon-Borivali stretch will be constructed at a cost of Rs 826 crore.
  • Additionally, two new lines for long-distance trains will come upon the Borivali-Virar stretch at a cost of Rs 2184 crore. This will ensure that long-distance trains starting from Mumbai Central bypass the suburban rail network.
  • The two corridors north of Kalyan will get additional rail lines. The Kalyan-Badlapur segment will get two new tracks at an estimated cost of Rs 1510 crore while another line on the Kalyan-Asangaon stretch will come up at the cost of Rs 1759 crore.
  • Apart from these, there will be another ancillary upgrading, including the new signaling system for Mumbai’s rail network called CBTC, which will cost Rs 5928 crore, and improvement of 19 railway stations.

The New Development Bank (NDB) will also provide a loan of USD 225 million for the Indore Metro Rail Project. The project is to implement a metro line of approximately 31 km in the city of Indore. The Project will provide mass rapid transit capacity for the city’s major mobility corridors, thereby contributing to local economic development and an improved urban environment by reducing traffic congestion and pollution. The decision was taken in the 22nd Meeting of the Board of Directors of the New Development Bank (NDB) which was held in Shanghai, China in the first week of December.

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