Curation Team
MUMBAI: The Maharashtra govt approved a loan guarantee for six Metro projects being implemented by the Mumbai Metropolitan Region Development Authority (MMRDA), paving the way for funding from international financial institutions to continue ongoing construction work.
The corridors 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 the 3.3-km underground extension of Metro Line 7 from Gundavali to the international airport via Marol. These projects are either under construction or in advanced planning stages and require substantial funding due to a mix of elevated and underground alignments.
The proposal was cleared at a recent cabinet meeting chaired by the chief minister. With this clearance, MMRDA can now approach multilateral funding agencies such as the Asian Infrastructure Investment Bank and the Asian Development Bank to raise loans. However, the responsibility for repaying the loans, including interest and other liabilities, will lie entirely with MMRDA. The state’s role is limited to acting as a guarantor to facilitate the loans.
Officials said the cumulative cost of the six corridors exceeds Rs 36,000 crore. Given the scale and complexity of these projects, financial support was crucial to avoid delays and prevent cost escalation. The approval also ensures that tendering and contracting activities for these lines can proceed without hurdles.
According to MMRDA officials, the state guarantee was essential to meet eligibility norms set by funding institutions. Without this backing, negotiations with lenders would have stalled or required costly financial restructuring. The projects are part of MMRDA’s larger vision to create a 300-km metro network by the end of the decade.
Metro Lines 5, 6, and 9 are expected to decongest the central and western suburbs, while Lines 10 and 11 will improve connectivity in the Mira-Bhayandar and south Mumbai regions. The Gundavali–CSMIA extension will offer a crucial airport link from the western suburbs. Once operational, these lines are expected to carry lakhs of commuters daily and significantly reduce road traffic.
