Funding Sion-Panvel Highway will ‘dent CIDCO finances’
A day after Ajit Pawar asked CIDCO to pay Rs 1,200 crore for widening of Sion-Panvel Highway and spare citizens of yet another toll in Navi Mumbai, the development body said that such expenditure would cripple its finances.
The City Industrial and Development Corporation currently has more than Rs 7,000 crore in its kitty. CIDCO officials said that most of the funds had been earmarked for infrastructure and public transport projects to be undertaken in Navi Mumbai over the next 10 years.
The projects include Navi Mumbai Metro, a rail link to Uran and construction of roads for the proposed international airport.
He added: “In CIDCO, all decisions are taken by the board. We will oppose Pawar’s proposal in the board meeting.”
CIDCO, like other development agencies, is split between Congress and NCP factions. Despite being part of a coalition government, the two parties oppose each others proposals.
Deputy Chief Minister Pawar had Monday asked CIDCO to finance the Public Works Departments, which is carrying out the widening of Sion-Panvel Highway, in order to prevent setting up of another toll naka in Navi Mumbai. The statement was seen as an attempt to drum up support among voters ahead of the October assembly elections.
While some CIDCO officials oppose his proposal, CIDCO chairman Pramod Hindurao said that it was unlikely to face objections from the board. “I will bring this proposal in the board meeting and get it passed. There is no reason for anyone to oppose it; the deputy chief minister has made it in the interest of people. We have adequate funds to finance the project,” said Hindurao, an NCP leader and a close aide of Pawar.
On Monday evening, the state cabinet finalised the new toll policy under which projects above Rs 200 crore will be given on a Build-Operate-and-Transfer basis. But Pawar sought an exemption for Sion-Panvel Highway, which cost Rs 1,200 and should have fallen under the BOT policy.
The City Industrial and Development Corporation currently has more than Rs 7,000 crore in its kitty. CIDCO officials said that most of the funds had been earmarked for infrastructure and public transport projects to be undertaken in Navi Mumbai over the next 10 years.
The projects include Navi Mumbai Metro, a rail link to Uran and construction of roads for the proposed international airport.
“If we give Rs 1,200 crore, then the planned projects will suffer. We plan to meet Chief Minister Prithviraj Chavan, who also heads the Urban Development Department, to prevent this proposed drain of resources,” a senior CIDCO official said.
He added: “In CIDCO, all decisions are taken by the board. We will oppose Pawar’s proposal in the board meeting.”
CIDCO, like other development agencies, is split between Congress and NCP factions. Despite being part of a coalition government, the two parties oppose each others proposals.
Deputy Chief Minister Pawar had Monday asked CIDCO to finance the Public Works Departments, which is carrying out the widening of Sion-Panvel Highway, in order to prevent setting up of another toll naka in Navi Mumbai. The statement was seen as an attempt to drum up support among voters ahead of the October assembly elections.
While some CIDCO officials oppose his proposal, CIDCO chairman Pramod Hindurao said that it was unlikely to face objections from the board. “I will bring this proposal in the board meeting and get it passed. There is no reason for anyone to oppose it; the deputy chief minister has made it in the interest of people. We have adequate funds to finance the project,” said Hindurao, an NCP leader and a close aide of Pawar.
On Monday evening, the state cabinet finalised the new toll policy under which projects above Rs 200 crore will be given on a Build-Operate-and-Transfer basis. But Pawar sought an exemption for Sion-Panvel Highway, which cost Rs 1,200 and should have fallen under the BOT policy.
