MRVC Railway Board Advance Projects

MRVC Railway Board Advance Projects

Mumbai: After the former Maha Vikas Aghadi administration failed to pay its share, the Mumbai Railway Vikas Corporation (MRVC) was in need of funding to carry out a number of infrastructure projects. The railway board has now allocated Rs 600 crore to the MRVC.

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The state government and the railway ministry jointly own 50 percent of MRVC. The Mumbai Metropolitan Region Development Authority (MMRDA) had stopped making payments on its investment as of 2020.

The railway ministry had turned down additional bailout offers after contributing more than its fair share of Rs 700 crore to get over the financial crisis.

Payment to numerous vendors and contractors totaling Rs. 550 crore had been postponed

by MRVC. Even though the outstanding debt amounted to $1,000 crore, the MRVC disbursed Rs 350 crore in two installments after postponing the release of tenders for several projects.

"We have got Rs 600 crore from the railway board after we filed a special request for release of funds," MRVC Chairman & Managing Director S C Gupta stated.

The money will be used to purchase land for the 2A, 3A, and 3 of the Mumbai Urban Transport Project (MUTP).

According to railway officials, the MVA administration "was not on good terms with the Central government," thus the board was hesitant to release the additional monies.

However, they continued, "the railway board is certain that several stalled projects will be fast-tracked with the change in the state government.

There has been a new rush to get things done since the Eknath Shinde-led government took office, especially with regard to railway projects.

The BKC property required for the terminal of the Mumbai-Ahmedabad bullet train project will be provided by December, according to MMRDA. A design and construction tender for an underground terminus at BKC, where the Covid hospital had stood, was released by National High Speed Rail Corporation Ltd (NHSRCL) on July 22 based on this assurance.

The first proposals, which were announced in November 2019, were rejected by NHSRCL in February 2022 because MMRDA had not transferred the land at BKC. Last Saturday, Ashwini Vaishnav, the railway minister, also paid a surpise visit to the BKC location. He promised last week that the railway site, for which the Maharashtra government had already paid Rs 800 crore, would be turned over in a month in order to complete the Dharavi redevelopment project. Because around 45 acres of railway land were not transferred, the reconstruction of Dharavi was put on hold. On February 24, 2019, during a meeting between then-chief minister Devendra Fadnavis and railway minister Piyush Goyal, a deal was made. The railway made 45 acres available after the state government requested approximately 107 acres.

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