With just over a month to go before the deadline finalised by the World Bank for the Mumbai Urban Transport Project (Phase I) expires, the Mumbai Metropolitan Region Development Authority (MMRDA) is facing the prospect of having to raise funds for the remaining works without the loan component.
World Bank officials have made it amply clear that further extension for the long-delayed project is unlikely. In a letter to the Department of Economic Affairs, the World Bank has indicated that it has no plans to extend the June 15 deadline. The letter written in the last week of April adds that while the loan closing deadline will be June 15, reimbursements for project work done until June 15 may be reimbursed till October 2011. If the loan period is not extended, the MMRDA and Mumbai Rail Vikas Corporation (MRVC) will have to fund the remaining cost of the MUTP project components, a sum of about Rs 150 crore, minus the loan assistance.
As far as rail component is concerned, following major works are pending:
1. Rakes. Around 12 rakes are yet to be despatched from ICF. No rake has been despatched in the last 46 days.
2. Conversion of Borivali-Churchgate and Kalyan-Thane from DC to AC.
3. Mahim-Santacruz 5th line.
4. Virar carshed.
None of these will be completed before June.