MUMBAI: The Maharashtra government has approved a loan guarantee for six Metro projects managed by the Mumbai Metropolitan Region Development Authority (MMRDA), securing continued funding from international financial institutions for ongoing construction.
The projects include Metro Lines 5 (Thane-Bhiwandi-Kalyan), 6 (Swami Samarth Nagar-Vikhroli), 9 (Dahisar East-Mira Bhayandar), 10 (Gaimukh-Shivaji Chowk, Mira Road), 11 (Wadala-CSMT), and a 3.3-km underground extension of Metro Line 7 from Gundavali to the international airport via Marol. Many of these projects are either under construction or in advanced planning stages, necessitating significant investment due to their complex elevated and underground structures.
This proposal received approval during a recent cabinet meeting led by the chief minister. With this endorsement, MMRDA can now engage with multilateral funding agencies like the Asian Infrastructure Investment Bank and the Asian Development Bank to secure loans. However, MMRDA will be solely responsible for repaying the loans, along with any interest and liabilities, while the state’s role is limited to providing a guarantee to facilitate these loans.
Officials indicated that the total cost for the six corridors exceeds ₹36,000 crore. Given the magnitude and complexity of these initiatives, financial backing is critical to prevent delays and keep costs from escalating. This approval will also allow tendering and contracting to move forward without any obstacles.
MMRDA officials noted that the state guarantee is vital to fulfill the eligibility requirements established by funding organizations. Without this support, discussions with lenders could face delays or necessitate expensive financial restructuring. These projects are integral to MMRDA’s broader goal of establishing a 300-km metro network by the decade’s end.
Metro Lines 5, 6, and 9 are anticipated to alleviate congestion in the central and western suburbs, whereas Lines 10 and 11 will enhance connectivity in the Mira-Bhayandar and southern Mumbai areas. The Gundavali-CSMIA extension will provide an essential airport connection for residents in the western suburbs. Once operational, these lines are expected to serve millions of commuters daily and significantly reduce road traffic.
