The government of Maharashtra (GoM) approved the Thane metro rail project on September 30, 2024.
Besides, Thane Municipal Corporation (TMC) is likely to allocate Rs 50.78 billion and GoM is likely to allocate interest-free secondary loan of Rs 9.69 billion under the project.
Additionally, the project will be funded by the central and state governments on an equity basis and via funding from bilateral agencies.
The Thane metro project is planned to be developed at an estimated cost of Rs 122 billion and will be implemented by the Maharashtra Metro Rail Corporation Limited. It will be funded jointly by the central and state government. It involves development of a 29 km long metro rail network that will run as a ring route in Thane district in Maharashtra. About 3 km will be underground and the remaining will be elevated. In all, 22 stations have been proposed on the route.