Gayatri Ramanathan / Mumbai January 26, 2006
But the metropolitan authority is grappling with how to lay its hands on Rs 50,000 crore.
After making a killing with its auction of land parcels (and raking in close to Rs 2,200 crore) in the last one month, Mumbai Metropolitan Regional Development Authority (MMRDA) is hungry for more. The authority, entrusted with the job of upgrading Mumbai’s infrastructure, is scouting for another Rs 50,000 crore to finance a series of ambitious blueprints.
On the anvil are plans such as phase two of Mumbai Urban Transport Project (MUTP), additional road infrastructure as part of the Mumbai Urban Infrastructure Project (MUIP), an ambitious plan to clear the city of slums in the infrastructure project areas and rehabilitate them in housing colonies with modern amenities, a marine park and a water transport project in the heart of the city at Bandra-Kurla complex, a recreational zone on the Gorai beaches, an inter-state bus terminus and a truck terminal at Wadala on a 60 hectare plot, and beautification of the entire Marine Drive stretch.
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