Has the Maharashtra cabinet approved the Mumbai Metro project worth Rs 23,487.51 crore?

Synopsis
Key Takeaways
- Maharashtra cabinet approves Rs 23,487.51 crore for Metro Line-11.
- Metro Line-11 will connect Anik Depot to Gateway of India.
- 70 percent of the line will be underground.
- Project includes 13 underground stations and 1 ground-level station.
- Funding includes requests for Central Government assistance.
Mumbai, Sep 3 (NationPress) The Maharashtra cabinet, led by Chief Minister Devendra Fadnavis, has granted approval for the development of the 17.51 km Metro Line-11 from Anik Depot-Wadala to Gateway of India in Mumbai, with a financial allocation of Rs 23,487.51 crore.
This Metro Line-11 serves as an extension to Mumbai Metro Line-4 (Wadala-Thane-Kasarwadavali). The Detailed Project Report (DPR) has been prepared by the Delhi Metro Rail Corporation (DMRC), with the construction managed by Mumbai Metro Rail Corporation Ltd.
Notably, 70 percent of this line will be underground, leading to the establishment of 13 underground stations and one ground-level station. Recently, the cabinet subcommittee on infrastructure gave its nod for this project. The state government plans to request the Central Government for equity of Rs 3,137.72 crore and interest-free secondary loan assistance of Rs 916.74 crore. Additionally, the cabinet agreed that the state will take responsibility for repaying the loan acquired for this project.
Moreover, the state cabinet also sanctioned loans for various Metro Rail projects in Thane city, the Pimpri-Chinchwad to Nigdi Metro Rail Corridor in Pune city, the Swargate to Katraj Metro Rail Corridor, the Vanaz to Ramwadi (Route No. 2) extension from Vanaz to Chandni Chowk, Ramwadi to Wagholi (Vitthalwadi), and Pune Metro Route-4 (Khadakwasla-Swargate-Hadapsar-Kharadi) and Nal Stop Warje-Manikbagh (Sub-Route) and Nagpur Metro Rail Phase-2.
According to a government release, the Thane Circular Metro Project, Pimpri-Chinchwad to Nigdi Metro Rail Corridor, Swargate to Katraj Metro Rail Corridor, Vanaz to Chandni Chowk, and Ramwadi to Wagholi Metro Corridor (Vitthalwadi), along with Pune Metro Route-4 (Khadakwasla-Swargate-Hadapsar-Kharadi) and Nal Stop Warje-Manikbag (Sub-route) and Nagpur Metro Rail Phase-2, have already received approval.
The cabinet also agreed that the government would bear the responsibility of loan repayment by formalizing the necessary agreements. These projects are expected to secure loans at favorable interest rates through bilateral, multilateral financial institutions or other approved entities.
Project development agencies will be accountable for repaying the principal, interest, and additional charges associated with this loan. Approval was granted in the meeting held on Wednesday to provide a government guarantee, if required, concerning this loan.