As per media reports, dated August 25, 2020, the Indian Government, Maharashtra government, and Mumbai Railway Vikas Corporation signed an agreement of loan of US$ 500 million dollars with the Asian Infrastructure Investment Bank (AIIB). The agreement is related to Mumbai Urban Transport Project-III, which aims at improving the service quality, network capacity, and safety of the suburban railway system in Mumbai, and is scheduled to complete in 2022. Expectedly, it will also increase the network capacity with the reduction in fatal accidents and the journey time of commuters.
Key Takeaways of the Agreement
Some of the key takeaways of the agreement are as follows:
(i) There will be a reduction in journey time and fatal accidents. About 22 per cent of the female passengers will be benefitted from improved safety and the quality of the service.
(ii) It will assist in the improvement of service quality, mobility, and safety of passengers of the suburban railway system of Mumbai.
(iii) Unlike road-based transport, it will also provide more reliable and higher quality of transport services.
(iv) There will be direct safety benefits to the public and the passengers through the introduction of trespass control measures.
(v) It will help in reducing carbon emissions by shifting passengers away from higher-carbon road transport towards efficient and convenient rail-based mobility.
(vi) With a population of 22.8 million (2011), Mumbai Metropolitan Region (MMR) is the most populous metropolitan region in India. This population is expected to reach 29.3 million by 2031 and 32.1 million by 2041.
(vii) This rapidly growing population represents the core driver behind Mumbai’s urban expansion, compelling the Maharashtra government to prioritise sound infrastructure and urban planning, which will balance mobility, economic activities, and the optimisation of social and environmental outcomes.
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