'Sky bus, complexes, bus terminal in pipeline'
We are seriously looking at a parallel transport system, the Sky Bus. The only doubts we have are about the technical aspects of this project. TCE Ltd has been asked to carry out a technical feasibility study, which would be completed in two months. The Konkan Railway Corporation will provide the technical expertise and we will set up an SPV along with a private party. MMRDA will provide the funds for the project. The first of such a project will take off on the 10-km Andheri Kurla road at a cost of Rs 400 crore. One way or the other we will come to a decision on the project by this year-end.
As an alternative we have studied the light rail system or monorail for the same route. This would, however, cost Rs 80 crore per km, double that for the sky bus system.
We plan to develop Oshiwara (in north-west Mumbai) as a commercial complex on the same lines as the Bandra-Kurla Complex. Since the real estate market is currently down we are deliberately going slow on the project. Land for the complex has been acquired.
We are also planning to develop an Inter State Bus Terminal at Wadala. We have already developed parking space for state transport buses. We are along with SICOM developing a convention centre at the Bandra-Kurla Complex for which we are looking for private partners. Besides, we are in advanced stage of talks with private FIs like HDFC and ICICI for setting up the Maharashtra Urban Infrastructure Fund to provide assistance to municipal bodies in the state. This will crystalise over the next few months.