The Mumbai Metropolitan Region Development Authority (MMRDA) has invited expressions of interest from banks and financial institutions to raise loans worth up to Rs 9,950 crore for the execution of Metro Line 5A and Metro Line 12A projects across the Mumbai Metropolitan Region (MMR).
According to the proposal document, the funding will be arranged through a Rupee Term Loan (RTL), either from a single lender or a consortium. The loan facility will carry a 25-year tenor, including a five-year moratorium on repayment of principal and interest from the date of first disbursement, followed by a 20-year repayment schedule.
The proposed funds will be used for Metro Line 5A, connecting Durgadi-Kalyan and Bhoirwadi-Ulhasnagar, and Metro Line 12A linking Manpada, Kalyan Phata and Khutirgaon in Taloja.
Metro Line 5A is planned as an extension of the Thane-Bhiwandi-Kalyan Metro Line 5 corridor. The 11.829-km elevated route will include seven stations — Durgadi, Khadakpada, Bhoirwadi, Shivaji Path, Shanti Nagar, Shivaji Chowk and Ulhasnagar. The project cost has been estimated at Rs 4,063.08 crore, while MMRDA intends to borrow Rs 3,250 crore for the corridor.
The line will provide connectivity with Metro Line 5, Metro Line 12 and the Central Railway suburban network at Kalyan Junction. Officials said the corridor is expected to ease congestion on roads and local trains while improving connectivity for commuters travelling across Kalyan, Dombivli and Ulhasnagar.
Meanwhile, Metro Line 12A is a revised version of the original Metro Line 12 project aimed at strengthening links between Navi Mumbai and Kalyan-Dombivli-Manpada. The fully elevated 18.4-km corridor with 12 stations is estimated to cost Rs 8,414.53 crore, with loan requirements pegged at Rs 6,700 crore.
The project is expected to improve regional connectivity, reduce travel time, lower vehicular emissions and support commercial and real estate development near metro stations.
Source: The Free Press Journal
