Minister Manmohan Singh laid the foundation stone for
Rs19,500-crore Mumbai Metro Rail Project on Wednesday.
Work on the ambitious mass rapid transit system (MRTS)
will begin in October 2006 and is scheduled to be completed
project, once completed, will ease traffic congestion
in the metropolis. The Maharashtra government and private
sector partner Reliance Dhirubhai Ambani Group (RADAG)
will share the costs of the project. The private partner
will hold a majority stake of 74 per cent in the project.
Mumbai metro rail system, which will run partly on elevated
tracks and partly underground, will drastically reduce
travelling time in Mumbai and the suburbs. It would
also address the rising air pollution problem in the
city. This is the third such system in the country,
after Calcutta and Delhi.
Mumbai metro railway system will cover a total distance
of 146km and link Mumbai city with its suburbs. The
first phase will link Versova in the west to Ghatkopar
in the east forming an 11km corridor with 12 new stations.
The launching of the MRTS project is seen as a step
towards making Mumbai a world-class financial hub.
prime minister, who laid the stone for the project,
was accompanied by state governor S M Krishna, chief
minister Vilasrao Deshmukh, Reliance Anil Dhirubhai
Ambani Group (RADAG)
chairman Anil Ambani and Mumbai Metropolitan commissioner
T Chandrashekhar. Others present at the function included
union ministers Sharad Pawar, Jaipal Reddy and Murli
Deora and Ambani's mother Kokilaben Ambani.