Mumbai Metro Two
The second Metro line from Charkop to Mankhurd via Bandra got a boost with the project’s financial closure being formally signed between Mumbai Metro One and a consortium of banks recently. MMRDA officials said that the consortium comprised Axis Bank, IDBI, Syndicate, Bank of Maharashtra, Andhra Bank and others. The sum assured is Rs 6,900 crore for the project, which is expected to cost Rs 8,250 crore in all. Mumbai Metro One officials said they had informally closed the deal last year, but a few issues has to be sorted out before the formal signing of the agreement which would secure the finance for the Metro line, which is being constructed on Build-Operate-Transfer (BOT) basis. MMRDA officials said that the project would be similar to the Mumbai Metro’s first line as it will also be built on a public -private partnership (PPP) model.