The Central
government, has in-principle sanctioned the entire viability gap funding of
Rs.4,500 crore for the Mumbai metro rail project phase-I. The first 11-km line
Versova-Andheri-Ghatkopar, developed by REL-MMRDA JV requires VGF of Rs.650
crore.
The total cost for all
the three phases of Mumbai Metro Project is around Rs.22,000 crore. It is
estimated that the state government will require to shell out Rs.4,500 crore as
VGF alone.
The state government
had approached the Centre for financial assistance under the Jawaharlal Nehru
National Urban Renewal Mission (JNNURM). However, the proposal was turned down
by the Centre.
Also See:
Mumbai metro Line
1 to get JNNURM grant (07-May-08)
Related Link:
Project Profile