The Centre has agreed to finance the entire cost of Rs 500 crore for developing the water metro project along the shoreline of Kalyan, Thane and Vasai.
The Thane Municipal Corporation (TMC) will ink an agreement with the inland water transport ministry within three weeks. TMC will also initiate talks with a German company to set up a base to manufacture high-capacity catamarans.
The route will have nine stops on either directions -- Vasai Fort, Jesal Park at Mira Bhayender, Ghodbunder, Naglabunder, Kolshet, Bhiwandi, Parsik Retibunder, Thakurli village and Kalyan.