ADB to provide highest ever USD 926 mn infra loan for Mumbai metro
The Asian Development Bank will provide a record USD 926 million (around Rs 6,500 crore) to operationalise two lines of the Mumbai Metro Rail System, said an official statement Friday.
The two lines are expected to ease the distress of millions of commuters each day and help provide a cleaner, less congested city, the release said after the loan agreement was signed between ADB and the central government here.
"The single largest infrastructure project loan in ADB history - approved by the ADB Board on February 26 will help fund lines 2A (Dahisar to D.N. Nagar), 2B (D.N. Nagar Bandra Mandale), and 7 (Dahisar [East] to Andheri [East]), totaling about 58 kilometers (km)," it said.
The project will fund 63 six-car trains, signalling and safety systems, and help establish a new dedicated metro operations organisation to manage the entire metro network in Mumbai.
The Mumbai Metropolitan Region Development Authority (MMRDA) will implement the project.
Once operational by the end of 2022, an estimated 2 million passengers a day will use the two new lines, travelling in improved safety and comfort.
It will also reduce emissions from vehicles, with carbon dioxide emissions expected to fall by about 1,66,000 tonnes a year.
The government has developed a plan for 12 metro lines with a total length of 276 km.
Line 1, completed in 2014 on a public-private partnership model, carries about 4 lakh passengers a day and has reduced travel time along its east-west route from 71 minutes to 21 minutes.
Other new metro lines will ease travel and make the city more livable and competitive.
Since access to the stations is sometimes difficult, ADB is also assisting MMRDA to improve last mile connectivity by piloting electric vehicles and non-motorised transport at select stations, the release added.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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