Cidco to part-fund Taloja-Kalyan metro project
Navi Mumbai town planning authority Cidco has granted its in-principle approval to part-fund the Kalyan-Taloja metro project (Line 12) in equity to the extent of alignment falling within its jurisdiction.
The Thane-Bhiwandi-Kalyan metro project (Line 5), which is being implemented by the Mumbai Metropolitan Region Development Authority (MMRDA), has been extended up to Taloja in Navi Mumbai for ensure connectivity to the under- construction Navi Mumbai international airport.
Earlier, the MMRDA had sought state approval to extend the project into the Cidco jurisdictions and requested the latter to contribute towards the cost of the project estimated at Rs 5,865 crore.
"The Cidco board has discussed the funding contribution to the total cost for the Kalyan-Taloja metro line being constructed by the MMRDA and decided to share the equity of the project to the extent of alignment falling within jurisdiction of Navi Mumbai and Niana," the authority said in a statement Wednesday.
This corridor is expected to accelerate development in the regions encouraging people to come to these nodes from the already crowded pockets of the city.
"It will also help in decongesting Mumbai by accelerating developments and generate employment opportunities here," it said.
The total length of the project is 20.756 km and nearly 4 km falls under the jurisdiction of Cidco. The metro route is expected to be completed by 2026.
Ironically, it can be noted that Cidco's first metro line in Navi Mumbai, connecting the industrial belt of Taloja to the city centre Belapur, is still under construction for almost a decade now and there is no clarity as on date as to when the 11-km line will be thrown open to public use.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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