The Asian Infrastructure Bank (AIIB) has signed a $500 million loan agreement with the Mumbai Railway Vikas Corp. for phase three of the Mumbai Urban Transport Project (MUTP).
The project aims to enhance the network capacity, service quality and safety of Mumbai’s suburban railway system, according to a summary of the project listed on AIIB’s website.
The project will provide sustainable, high-capacity and safe cross-regional connectivity in the Mumbai metropolitan region. Work will include quadrupling of the 64-kilometer (40-mile) Virar–Dahanu Road corridor to provide extension of suburban railway service, which will serve growing suburban areas and connect the peripheral areas with Mumbai.
It also will involve the construction of a new 28-kilometer (17.3-mile) suburban railway corridor between Panvel and Karjat, as well as the installa
