East coast plan watered down

MUMBAI: The east coast transport project, which is being implemented by the Maharashtra State Road Development Corporation (MSRDC), will be trimmed from Rs 1,000 crore to Rs 650 crore.
Early this week, the state government announced its plan to scrap the water transport project from Nariman Point to Borivli, terming it financially unviable. The original proposal was to provide an internal water transport system along the east coast connecting the city to Navi Mumbai and Rewas-Mandwa in Alibaug.The proposal was to provide roll on-roll off services from Ferry Wharf to Nerul- Belapur, and from Ferry Wharf to Rewas-Mandwa. The three passenger water transport terminals were proposed at Ferry Wharf, Nerul and Mandwa. Mantralaya sources said the project will now be implemented in phases. At a meeting called by chief secretary Swadhin Kshatriya on Wednesday, MSRDC officials said at Rs 1,000 crore the project cost was too “high and financially unviable”. CIDCO and the MMRDA will provide 40% each of the project cost as loan, while 20% of the funds will be provided as a grant by the state government.
“Soon, the MSRDC will provide a project report, including the financial implications,” said a source. The MSRDC will also work on road connectivity to the passenger terminals at the Mumbai and Navi Mumbai ends. The approach road to the proposed terminal at Ferry Wharf, includes an elevated road connecting the water terminal to the Eastern Freeway. Plans are afoot to create a waterfront.