In a major boost to Mumbai’s infrastructure development, the Mumbai Metropolitan Region Development Authority (MMRDA) has secured a loan of Rs 31,673.79 crore from the Power Finance Corporation (PFC). This financial package is earmarked for nine critical infrastructure projects that are set to transform the transportation network across the Mumbai Metropolitan Region (MMR). The formal loan agreement between MMRDA and PFC was signed on Wednesday, marking a critical step towards modernising the region’s infrastructure. The loan will cover 80 per cent of the total project cost, with the remaining 20 per cent to be funded through a combination of government grants and contributions from MMRDA.
A significant portion of this loan, Rs 15,071 crore, will be directed towards the Thane-Borivali Twin Tunnel Project. This project is expected to drastically cut travel time between these two densely populated areas, alleviating traffic congestion and providing a faster, more efficient commuting option. The remaining Rs 16,602.79 crore will be allocated to eight additional key projects that span various parts of the MMR. These include the construction of the Thane Coastal Road (Phase I), an extension of the Eastern Freeway from Ghatkopar to Thane, and the building of several elevated roads, bridges, and overpasses aimed at improving regional connectivity.
The infrastructure projects funded by this loan are designed to enhance both inter-city and intra-city connectivity. Notable projects include the construction of an elevated road from National Highway No 4 to Katai Naka, a creek bridge and access roads from Kolshet in Thane to Kharbao in Bhiwandi, and a creek bridge connecting Kasarvadavali in Thane to Kharbav. These initiatives will not only reduce travel time for commuters but also open up new development corridors in the MMR, leading to potential economic growth in these regions. Additionally, projects like the elevated road on the Eastern Express Highway from Anand Nagar to Saket in Thane city and a new creek bridge from Gaimukh to Payegaon are expected to decongest existing traffic hotspots and provide smoother transit across the region.
These projects reflect MMRDA’s commitment to developing a world-class transportation network that will support the city’s growth and improve the quality of life for its citizens. Once completed, the improved road networks, bridges, and elevated expressways will provide safer, faster, and more sustainable travel options, while promoting economic growth and enhancing accessibility throughout the region. The partnership between MMRDA and PFC represents a significant leap forward in the ongoing efforts to transform Mumbai’s infrastructure, making the region more connected, vibrant, and economically resilient.
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