Rs. 23,136- crore Colaba-Bandra-Seepz underground metro corridor work is set to take off, Maharashtra Chief Minister Prithviraj Chavan will lay the foundation stone for the project.
Japan International Cooperation Agency (JICA), Japanese funding agency will fund this project through MMRDA under the agreement signed by the government on September 17, 2013, will fund Rs. 13,235 crores which is 57% of the project cost of Rs. 23, 136 crores.
Remaining cost will be borne by Centre and state governments. The Mumbai International Airport, also will invest Rs. 777 crores; since the metro will pass through its territory.
MMRC had earlier received pre-qualification bids from 14 EPC consortia for the project, The corridor is expected to carry 13.9 lakh commuters daily by 2021 and 17 lakh by 2031.
The project is expected to be completed by FY’20.