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Friday , 23 February 2024

Mumbai Metro Corridor approved

The Maharashtra government has approved the construction of the underground 33.5km long Metro Line 3 in Mumbai. The project, estimated to cost ? 23,136 crore, will be run on a standard gauge track. The construction is expected to begin this year and get completed by 2019. The Mumbai Metro Rail Corporation (MMRC) will be the Special Purpose Vehicle (SPV) for the project with 50% equity participation each from the Government of India and the Government of Maharashtra. MMRC will have ten directors, with five directors nominated each by both the governments. The Secretary, Ministry of Urban Development will be the ex-officio Chairman.

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