Maharashtra Government Approves Rs 122 Billion Thane Metro Rail Project
The Maharashtra Cabinet, under the supervision of Chief Minister Eknath Shinde, has given the green light to the Thane Circular or Integral Ring Metro Rail project. With an estimated cost of Rs 122 billion, this ambitious project aims to reduce congestion on the roads and provide an efficient and sustainable mode of transport for the city.
Infrastructure Development for Thane
The Thane Circular Metro Rail project will cover a distance of 29 km and include 20 elevated stations and two underground stations. The state government, along with the central government, will provide equal equity and funding for this project. Bilateral agencies will also contribute to its funding, and innovative financing methods such as selling station naming and access rights for corporate firms will be explored.
Maha-Metro: Executing the Vision
The responsibility of executing this massive project lies with Maha-Metro. Alongside the construction of the metro rail network, Maha-Metro will also undertake civil, electro-mechanical, and other associated works. Preparations for tender documents and pre-bid activities are already underway, with contracts set to be floated for bidding in the near future.
State Government Contribution
The Thane Municipal Corporation has been instructed by the state government to contribute Rs 5,078.04 crore towards the state’s equity share, as well as the costs associated with land acquisition, rehabilitation, and resettlement. To further support the project, the state government will provide an interest-free secondary loan of Rs 969.75 crore. The finance department has emphasized timely repayment of this loan, following repayment of loans raised from multilateral agencies.
Sustainable and Efficient Transportation
The Thane Metro Rail project is expected to address traffic congestion, realize the city’s economic potential, and contribute to the reduction of greenhouse gas emissions. Providing faster and more economical transport options, the project will significantly benefit daily commuters, including students and office workers.
Projected Ridership Numbers
The metro rail line is projected to witness substantial ridership with estimated figures of 6.47 lakh, 7.61 lakh, and 8.72 lakh passengers per day in the years 2029, 2035, and 2045, respectively. These numbers demonstrate the significance of the project in catering to the increasing travel needs of Thane’s population.
Completion and Guidelines
Authorities have set a strict deadline for the completion of the Thane Metropolitan Rail project, with the targeted year being 2029. Both Maha-Metro and the Thane Municipal Corporation have been instructed by the state government to ensure the project is finalized within the stipulated time period while strictly adhering to the budget allocation. Controlling costs and avoiding any escalation is crucial for successful implementation.
Inclusive Opportunities for Development
Moreover, Maha-Metro has been designated as the special planning authority for the construction of the metro network, including provisions for parking and property development. This approach ensures comprehensive integrated development that goes beyond transportation infrastructure alone.
As Thane moves closer to experiencing the efficiency and connectivity of the metro rail, the state government’s initiation of this ambitious project marks a significant milestone in their commitment to providing progressive and sustainable infrastructure for the citizens. With advances in transportation options and reductions in traffic congestion, Thane is poised for further growth and development.
