Even as the proposed Colaba-Bandra-Seepz Metro is still in the planning stage,well-known Japanese firms have already started showing interest in supplying technical knowhow for the project,touted as the countrys longest fully-underground Metro rail.
Representatives of companies such as Mitsubishi,Toshiba,Kawasaki and Nippon had visited Mumbai Metropolitan Region Development Authority (MMRDA) on Monday to make presentations about their experience and expertise in dealing with Metro rail systems.
Representatives of Japanese companies wanted to show their interest in the project in terms of supplying rolling stock and other systems. They also wanted to in turn understand the nature of the project and our requirements, said U P S Madan,metropolitan commissioner,MMRDA.
He,however,said contracts for supply of equipment for the 34-km Metro rail line would be awarded only after issuing tenders.
These companies are technologically sound and are strict with deadlines,which is important for a city like Mumbai, Madan added.
The Colaba-Bandra-Seepz project would be the citys first fully-underground Metro and one of the most expensive infrastructure projects in Mumbai. The project cost has been pegged at Rs 24,500 crore. Having 27 stations,the Metro line,which is expected to cater to 16.99 lakh people daily by 2031,will not only boost connectivity to Chhatrapati Shivaji International Airport and business districts such as MIDC,SEEPZ,Bandra Kurla Complex and Nariman Point.
Representatives of the Japanese Ministry of External Affairs and the Japan International Cooperation Agency (JICA),which has agreed to provide funds for the project,also attended the meeting at MMRDA headquarters in Bandra Kurla Complex on Monday.
JICA has given an in-principle assurance of providing a loan to cover 56 per cent of the project cost. The loan would be at a low interest rate of 1.4 percent payable over 30 years.
The formal signing of the loan agreement is likely to happen in May,by when we will have more clarity about the central governments approval for the project. We have submitted the additional information that the public investment board had asked for and expect a favourable decision soon, said Madan.
Last month,the central governments public investment board discussed the Colaba-Bandra-Seepz Metro project and deferred a final decision for want of more information. Once the board clears the proposal,it will be appraised by a cabinet committee.
The project would be the citys first fully-underground Metro and one of the most expensive infrastructure projects in Mumbai
Representatives of companies such as Mitsubishi,Toshiba,Kawasaki and Nippon visited MMRDA on Monday to make presentations about their experience and expertise in dealing with Metro rail systems
Representatives of the Japanese Ministry of External Affairs and Japan International Cooperation Agency,which has agreed to fund the project,also attended the meeting