The MMRDA plans to infuse Rs 4,000 crore to construct dams and a water distribution system that will cater to far flung suburbs such as Mira-Bhayandar, Nalasopara and municipalities in Thane district. The projects are likely to be funded through a mix of debt and equity.

The MMRDA is likely to invest in four water projects in Thane and Raigad district. It is planning to invest Rs 1,500 crore for the Shahi dam which will supply 940 mld water. The Poshir dam project is expected to entail an investment of Rs 1,258 crore for 920 mld of water while the Kalu dam will need Rs 1,373 crore for 1,140 mld of water. The authority has already invested Rs 96 crore in the Surya dam for supplies of over 303 mld of water.

Meanwhile, the MMRDA is mulling setting up an innovation park with the Italian Government and talks are at the initial stages for the park to come up near Panvel or Lavasa. The project requiring 3,000 acre is likely to entail a cost of Rs 1,000 crore.

Also See:

MMRDA plans dams in Thane, Raigad (13-Jul-09)