MRVC may seek Rs 200 billion loan for suburban railway projects

The Mumbai Railway Vikas Corporation (MRVC) is considering seeking a loan of Rs 200 billion to fund major suburban railway projects. The projects form a part of the Mumbai Urban Transport Project (MUTP)-III A, the total cost of which is expected to be around Rs 500 billion. The major projects under the MUTP-III A include the elevated corridor of the Chhatrapati Shivaji Maharaj Terminus-Panvel stretch, the procurement of 210 AC local trains, improvement of 18 stations, a suburban railway corridor between Virar and Panvel, and cab signalling technology deployment to improve the frequency of local trains. The MRVC aims to assess several options for generating funds for the multi-billion rupee project. Commercial exploitation of railway land is among the options being looked at.