Indian Express 21.07.2010
Extra funds for Metro: World Bank says too early to decide
Express News Service Tags : MMRDA seek more funds for metro project, mumbai Posted: Wed Jul 21 2010, 00:54 hrs
Mumbai: The Mumbai Metropolitan Region Development Authority (MMRDA), seeking funds for additional components of the Metro project, did not get the positive signal they would have wished for when the World Bank’s country director Roberto Zagha visited the MMRDA headquarters Tuesday.The MMRDA has prepared a masterplan to construct an additional seven Metro rail corridors and is seeking financial assistance from international institutions as the project would cost approaximately Rs 24,000 crore.
MMRDA officials on Tuesday gave an elaborate presentation of the project and its plans to Zagha and other WB officials.
Zagha, who was visibly impressed after the presentation, made it clear that discussing the funding part could not be decided just after one presentation. “We do not look at projects individually. It took three-and-a-half years to come up with the masterplan. I cannot discuss funding the project just after one presentation. The proposal has to come through the Government of India,” Zagha said. But he also said, “I am encouraged by the plans of MMRDA for the overall development of the MMR. We are really happy that MMRDA has come up with well-thought out transportation plan. We’re serious to support MMRDA in its ambitious projects.”
“International institutions including Japan Bank for International Cooperation have shown interest in our transport project. In essence, we are seeking long- term financial support from these institutions for our public transport projects,” said Metropolitan Commissioner Ratnakar Gaikwad.
“While the first corridor, Versova-Andheri-Ghatkopar, is at an advance stage, the soil testing for the second corridor from Charkop to Mankhurd via Bandra has almost been completed. We have also submitted our proposal to the Centre seeking its in-principle approval to begin the tender processing for the third Colaba-Bandra corridor. It is the third corridor— which is underground from Colaba to Mahalaxmi - will require huge viability gap funding notwithstanding the 40 per cent VGF agreed by the Government of India, in principle.”
Meanwhile, the World Bank review mission for the delayed Mumbai Urban Transport Project (MUTP) is under way. But the major challenge for the implementing agencies is the completion of the Santacruz Chembur Link Road.
“We visited the SCLR project. The road has taken the longest time in the history of road construction,” said Zagha on MUTP. With the rehabilitation and resettlement issues is yet to be cleared, the MMRDA has sought extension of the project to December 2011. The showcase project was slated to be closed in June 2008
