Vadhavan Port in Palghar to have extensive road connectivity
The Mumbai Metropolitan Region Development Authority (MMRDA) presented a revised and economically viable plan for the Uttan-Virar Sea Link (UVSL) project to Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde, who is the state's Urban Development Minister.
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Indian Express
11 minutes ago
- Indian Express
MMRDA has reduced Uttan-Virar Coastal Road project cost by Rs 34,000 crore
The Mumbai Metropolitan Region Development Authority (MMRDA) has reduced the cost of the Uttan-Virar Coastal Road (UVCR) project by nearly Rs 34,000 crore. The fresh proposal was submitted to Maharashtra Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde at a review meeting held in Mumbai on Thursday. According to MMRDA officials, the cost has been cut down to Rs 52,652 crore from Rs 87,427 crore after making changes in lane layouts, minimisation of the land area needed, changes in the designs of connectors, and minimisation of provisional and consultancy charges. The coastal road project to enhance connectivity between the northern suburbs of Mumbai and the western coast will now go with this 'low-cost system'. Among the cost-cutting measures is reducing the size of the carriageways. The initial plan offered 4+4 lanes with a main coastal stretch of an emergency lane and 3+3+1 lanes on connectors. This has now been transformed into a 3+3 lane configuration on the coastal stretch and 2+2 lanes on the connectors, resulting in the reduction of civil and structural costs. The decrease in lane width has also resulted in a smaller 'right of way' requirement, thereby reducing land acquisition costs. The new plan is also structurally altered by using single-pier structures instead of two-pier designs, which are less expensive and require fewer materials and manpower. 'The additional savings were made through rationalisation of consultancy charges, minimising initial overheads and revising cost estimates using available infrastructure,' said a senior MMRDA official. Uttan Virar Coastal Road will stretch to 55.12 km, which includes a 24.35 km main coastal road and 30.77 km connecting roads. The planned arrangement for the main road is a 25.1 meter-wide 3+3 lane carriageway and an 18.55 metre-wide 2+2 lane configuration for the connectors. The project includes three key connectors — the 9.32 km Uttan Connector, linking the road to the Dahisar-Bhayandar Link Road, the 2.5 km elevated Vasai Connector, and the 18.95 km Virar Connector, connecting the corridor to the Vadodara-Mumbai Expressway. 'This alignment is expected to improve goods and passenger traffic flow between the northern suburbs and Mumbai's western coast while also integrating with larger national corridors,' the official added. The funding proposal of MMRDA consists of Rs 37,998 crore (72.17%) as loans by JICA or other multilateral organizations, repayable in the form of toll revenue. The Maharashtra government and MMRDA will provide the balance Rs 14,654 crore (27.83%) as equity. Fadnavis has ordered MMRDA to finalise and submit the updated Detailed Project Report (DPR) and Preliminary Project Report (PPR) to the government for approval. He has also sought a Special Purpose Vehicle (SPV) to be established to execute the project and that all the approvals be fast-tracked. Once operational, the road will improve transport connectivity in the Mumbai Metropolitan Region and connect with the planned Vadhavan Port.
Deccan Herald
7 hours ago
- Deccan Herald
Vadhavan Port in Palghar to have extensive road connectivity
The Mumbai Metropolitan Region Development Authority (MMRDA) presented a revised and economically viable plan for the Uttan-Virar Sea Link (UVSL) project to Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde, who is the state's Urban Development Minister.
Hindustan Times
8 hours ago
- Hindustan Times
Finance dept worried about rising liabilities, wants govt to reduce committed expenditure
MUMBAI: The state finance department has expressed concern over rising liabilities and has stated that the government will have to reduce its revenue expenditure and rationalise its schemes. It has asked the public works department (PWD) to prioritise infrastructure projects, as financial resources need to be used judiciously. Finance dept worried about rising liabilities, wants govt to reduce committed expenditure The department has suggested that megaprojects be undertaken on a build, operate and transfer (BOT) basis, which entails private players doing the build and operate part so that the exchequer is not burdened. This stems from the fact that the state has given guarantees of ₹ 51.44 lakh crore against contingent liabilities till 2024-25 and is spending 22 percent of its total generated revenue for repayment of loans and their interest. The finance department made these remarks while approving funds of ₹ 20,878 crore for land acquisition for the 802-km Nagpur-Goa Shaktipeeth Expressway. The entire amount was taken as a loan from the Housing and Urban Development Corporation (HUDCO). It includes ₹ 12,000 crore for land acquisition and the remaining ₹ 8,787 crore for the payment of interest on the loan. While approving the proposal, the department made certain observations and remarks. It stated that while preparing budgetary estimates for the 16th Finance Commission, it was observed that capital expenditure would grow at a CAGR (compounded annual growth rate) of over 10%, the fiscal deficit would exceed the FRBM (fiscal responsibility budget management) limit of 3%, ranging between 3.13% to 4.08%, and in the next four to five years, the debt to GSDP (gross state domestic product) ratio would reach up to 25%. Moreover, the growth in interest payments by the AA (Account Aggregator) would approach 14%. The department stated that it had repeatedly expressed concerns about key aspects of project management and financial structuring of various major projects being undertaken by the PWD and its corporations. 'It is essential for them to prioritise the projects they have undertaken and ensure the optimal use of financial resources without spreading them too thin.' Apart from suggesting the BOT model for projects, the finance department suggested that the PWD explore alternative financing sources outside the budget, including private investment through the PPP model, monetisation of assets and innovative financial instruments like Infrastructure Investment Trusts (InvITs). It also suggested the PWD prioritise its schemes, which the department has already moved on. The finance department pointed out that HUDCO was giving the PWD a ₹ 20,878-crore loan at 8.85 percent interest, which was 2.1 percent more than what the government paid in the open market. It further asked why the PWD was going ahead with the land acquisition process without having all the environment clearances. Dismissing reports that the remarks were 'objections', CM Devendra Fadnavis said it was the finance department's 'duty to point out things'. Defending the government's taking of loans, he said that every new highway opened doors for the economy. 'When we invest ₹ 12,000 crore in an infrastructure project, the return against the capital amount is multifold, as it expands our economy and also creates more capacity to repay the loan amount,' he said. 'Hence, all countries are developing their infrastructure by taking loans. It is a rule that a loan taken for developing infrastructure is considered as the best loan, as it strengthens the economy.' According to the budget estimates for the financial year 2025-26, the state government is expected to have a total debt of ₹ 9,32,242 crore by March 2026. During FY 2025-26, ₹ 1,54,457 crore will be paid towards debt servicing— ₹ 89,798 crore will go towards repayment of the principal and ₹ 64,659 crore towards interest.
