PM Kicks Off Rs 1.06-Lakh-Crore Mumbai Infra Projects
Mumbai: Prime Minister Narendra Modi on Saturday laid foundation stones of many key infrastructure projects, including the country's longest sea bridge and two metro lines in the city, entailing investment of over Rs 1.06 lakh crore.
  Â
"Developmental works of over Rs 1.06 trillion are getting started in a single city at a single event. This will be a big milestone in the city's history," PM Modi said at a public rally at the MMRDA grounds in suburban Bandra-Kurla Complex.
He kick-started progress on the much-delayed and ambitious projects, months ahead of local elections to the nation's richest civic body.
Projects include 22.5-km Mumbai Trans Harbour Link that will connect the city's eastern suburbs with the mainland across the harbour, via a 16.5 km sea bridge and a viaduct.
The Rs 17,843-crore project, for which multiple consortia have shown interest, will connect Sewri in central-east Mumbai with Nhava Sheva across the harbour which is close to the nation's largest container port JNPT.
To be completed by 2019, MTHL will also help increase connectivity to the proposed Navi Mumbai international airport.
PM Modi also laid the foundation stones of two new metro projects -- the 23.5-km DN Nagar-Bandra-Mankhurd Metro-2B corridor and the 32-km Wadala-Ghatkopar-Thane-Kasarvadavli Metro-4 corridor-- through a remote control at the event.
The two metro lines, part of a plan to have a 200-km metro network across the Mumbai metropolitan area cutting through densely populated suburbs serving as feeders for the island city, will be built at an investment of Rs 10,986 crore and Rs 14,549 crore, respectively.
Both the metros will run 6-coach trains and is expected to carry 1,800 commuters per trip each.
The Mumbai Metropolitan Region Development Authority is aiming to reduce the overcrowding in suburban local trains run through these metro projects and also reducing the vehicular traffic woes.
The Prime Minister also laid the foundation stone for multiple works to be carried out as part of the third phase of the Mumbai Urban Transport Project with an investment of Rs 52,000 crore across the megapolis.
Major among these are suburban networks including two more lines between Virar-Dahanu Road, Panvel-Karjat double line suburban corridor and trespass control at 22 locations.
PM Modi also laid the foundation stone for flyovers to ease traffic congestion at critical spots which include two flyovers at Bandra's Kalanagar Junction.
He also laid the foundation for a Rs 3,600-crore grand memorial for Shivaji Maharaj, the 17th century warrior king, off the city coast.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.