Budget nod to spend on infrastructure can unlock delayed projects in Mumbai

MUMBAI: The mention of a spend of around Rs 60,000 crore on transport and infrastructure projects in cities across the country could spell good news for big-ticket projects in and around Mumbai, which have been stuck because of the Centre’s unwillingness to dish out funds.
“To give a push to projects amid the slow economy, Centre’s finance will play a key role,” said a senior state government official.
State officials are confident of wrangling money for the viability-gap funding of four major projects: Coastal roads, Nhava-Sewri Trans Harbour Link, Navi Mumbai international airport and Mumbai-Goa Highway widening work.
The coastal roads project—between Versova and Bandra, and between Worli and Nariman Point—could be the biggest beneficiary in the city as such projects have more chances of getting funds through the kitty allocated for road development, said a state official. The project requires environmental clearance to reclaim coastal area at some places, and for this the environment Act needs to be amended. The project also needs around Rs 4,000 crore.
The Mumbai Trans Harbour Link, a 22-km sea link between Nhava and Sewri, also has the potential to win more funds, said MMRDA officials. Though the Centre has decided to help with 20% of the total Rs 10,000 crore, the state aims to get 30% more. “We might approach the Centre to push the project,” said an official, adding that bids had failed thrice in the past over lack of attractive financing.
While the Centre has to waive off several taxes and offer financial aid to make the Navi Mumbai international airport project financially attractive for domestic and foreign investors and infrastructure firms, it is also supposed to release a part of the Rs 5,000-crore allotted for four-laning 380km of the 400km Mumbai Goa Highway—from Indapur in Raigad up to Malwan near the Goa border.