MUMBAI: The Mumbai Urban Transport Project (MUTP) got its second consecutive shot in the arm with the Mumbai Railway Vikas Corporation (MRVC), the coordinating body, getting Rs 660 crore to complete on-going railway and related infrastructure projects. The projects also got a special mention in the speech with Union railway minister Mamata Banerjee setting deadlines—MUTP-I by December-end and MUTP-II scheduled for March 2014.
A happy MRVC managing director P C Sehgal said, “If we continue to get such healthy doses of funds from the Centre for the next five years we will be able to meet the deadline of the second phase of the project.’’
According to the existing funding structure, of the Rs 660 crore, the Indian Railways and World Bank will jointly provide Rs 330 crore while the remainder would come from the state government. “The percentage of the World Bank loan is yet to be worked out,” said an MRVC official.
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