Railways open FDI for CST-Panvel high-speed corridor

For the first time, Indian Railways have thrown open the proposed CST-Panvel high-speed corridor to foreign direct investment. The proposed project is estimated to cost around 14000 crore and will connect south Mumbai to the proposed international airport in Navi Mumbai.The project is to be completed on a Design, Build, Finance, Operate and Transfer basis. While railway board rules allows a foreign investor to put in 100 per cent FDI, the railways are willing to chip in up to 20% the project cost by way of viability gap funding.

The CST Panvel High Speed Corridor is a proposed elevated suburban rail corridor on the Harbour Line of the Mumbai Suburban Railway for air-conditioned EMUs (Electrical Multiple Units). This was proposed in the 2009-10 Railway Budget.The 48.3 km long corridor will be elevated for 31.6 km of the route and will be at grade for 12.4 km, where it will run parallel to existing lines. The corridor will also require the construction of a 4.3 km bridge over Thane Creek.

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