World Bank approves $430 mn loan for Mumbai rail project
By IANSThursday, August 19, 2010
NEW DELHI - The World Bank has approved a $430 million loan to Indian Railways for part funding of its Mumbai Urban Transport Project II (MUTP II), aimed at improving transport in and around the metropolis, the Lok Sabha was told Thursday.
In response to a question, Minister of State for Railways K.H. Muniyappa also said that the project comprises various components. These include laying tracks between Mumbai’s Chhatrapati Shivaji Terminal and Kurla, besides those between Thane and Diva and Mumbai Central and Borivali.
The other components include extension of the Harbour Line from Andheri to Goregaon, alteration of electrical systems, manufacturing and procurement of electrical multiple units as well as technical and institutional strengthening studies.
Another important component of the project, to be completed by 2014-15, is resettlement and rehabilitation of project-affected households besides improvement of stations and building infrastructure for regulating access to them.
While the World Bank loan will be used for part funding of the project, a part will also be funded jointly by the railway ministry and the state government, the minister said.
