Mumbai, Sep 3
The Maharashtra cabinet, chaired by Chief Minister Devendra Fadnavis, on Wednesday approved the construction of the 17.51 km Metro Line-11 project from Anik Depot-Wadala to Gateway of India in Mumbai with a financial provision of Rs 23,487.51 crore.
Of the total project, 70 per cent of this line is underground, and therefore, 13 underground stations and one ground-level station will be built. The cabinet subcommittee on infrastructure had recently cleared this project.
For this project, the state government will make a request to the Central Government for equity of Rs 3,137.72 crore and interest-free secondary loan assistance of Rs 916.74 crore. The cabinet also approved that the state government will take the responsibility for the repayment of the loan taken for the project.
The project development agencies will have to repay the principal, interest and other charges of this loan. Approval was given in the meeting held on Wednesday to provide a government guarantee, if necessary, in connection with this loan.