Maha Cabinet clears secondary loan for Rs 9,158 crore Orange Gate-Marine Drive subway ...Middle East

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Maha Cabinet clears secondary loan for Rs 9,158 crore Orange Gate-Marine Drive subway
Mumbai: The Maharashtra Cabinet chaired by Chief Minister Eknath Shinde on Monday gave consent for interest-free secondary loan assistance to the Mumbai Metropolitan Region Development Authority (MMRDA) to expedite the Rs 9,158 crore three plus three lane Orange Gate to Marine Drive subway with two tunnels in south Mumbai. Of the total cost of Rs 9,158 crore, the cabinet cleared the state government’s interest-free secondary loan of Rs 1,354.66 crore comprising of state government’s tax worth Rs 614 crore, 50 per cent of the Central taxes of Rs 307.22 crore and land acquisition cost of Rs 433 crore. MMRDA’s contribution to the project will be of the order of Rs 477.34 crore. The MMRDA will

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