Germany's development bank will be providing financial assistance to the Mumbai Metropolitan Region Development Authority (MMRDA) for the expansion of the Mumbai metro network.
The aid will come in the form of a loan for the development of the Metro Line-4 between Wadala-Thane-Kasarvadavali, and Line-4A between Kasarvadavali-Gaimukh.
Recently, the Metropolitan Commissioner had a positive discussion with the officials of KfW Bank, which provides loans in Germany, as per a report by Mumbai Live.
As per the report, after the meeting, funding assistance of approximately Rs 4,189 crore is expected to be made available soon for the two metro corridors.
This loan will be utilised for the implementation of various works such as the installation of signals, electrical systems, and other related projects on the Line-4 and Line-4A.
Earlier in 2019, KfW Bank, a leading development bank in Germany, had expressed its interest in providing financing and lending for multi-purpose projects, including the two metro corridors.
The MMRDA is undertaking several projects in Mumbai and the Mumbai metropolitan region (MMR) — which include the metro, coastal roads, bullet train, bridges, elevated roads, and expressways.
These projects come with significant costs, and MMRDA is raising funds in the form of loans to finance them.
At present many other projects are also being implemented with the financial support from Japanese funding through the Japanese International Cooperation Agency (JICA).
The Metro Line-4 is part of the Green Line and will be 32.32 km long starting from Kasarvadavali, near Thane in the north, to Wadala, south Mumbai — providing an alternate public transport connectivity for Thane city with Mumbai.
Currently, the metro line is more than 41 per cent ready and expected to be opened in a phased manner.
This network is proposed to be extended through Metro Line-4A between Kasarvadavali and Gaimukh and Metro Line-11 connecting Wadala to Chhatrapati Shivaji Maharaj Terminus (CSMT) with a total length of 12.77 km.
In its entirety, the Green Line corridor will be around 57.11 km in length, connecting Shivaji Chowk, Gaimukh, Kasarawadavali, Wadala and CSMT through 48 stations.
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