The projects range from that of new railway lines to development of ports and coastal security. The bank may also fund the government in purchasing 500 new air-conditioned interstate buses particularly for rural Maharashtra.
The state government is in process of tying up with the Asian Development Bank (ADB) for funding for nine upcoming transport projects in the coming years.
Highly placed sources in the department claimed that a meeting was held between the ADB India head and the chief minister Devendra Fadnavis last week to work out the details. The bank reportedly has offered an interest rate of less than 1% to the government. These projects have an outlay of 23,000 crore and the work is expected to start by this year.
The projects range from that of new railway lines to development of ports and coastal security. The bank may also fund the government in purchasing 500 new air-conditioned interstate buses particularly for rural Maharashtra.
The buses will be modern low floor buses with CNG fitting.
"Several meetings have already been held with all the stakeholders including officials from ministry of railways, ministry of shipping, state government and the bank. We are confident that the very soon we will be in position to announce the details of the project," said Vijay Satbir Singh, principal secretary, transport department.
The ADB in past has been in touch with the government for various projects including the two elevated Metro lines – one that would connect Dahisar East with Andheri East and the other between Dahisar and DN Nagar in Andheri West. The state plans to complete the projects by 2019. The 16.5km Andheri East to Dahisar East line is estimated to cost Rs 4,737 crore, while the 18.6-km Dahisar-DN Nagar Line is pegged at Rs 4,994 crore.
Besides the transport and port department is also expected to sign six Memorandum of understanding in the coming week including the much awaited satellite port at Wadhavan near Dhanu. The new port, which will cost Rs.10000 crore to build, will ease congestion at JNPT, which is close to Mumbai. JNPT will hold a 74% stake in the proposed port project while the Maharashtra Maritime Board (MMB), owned by the state government, will hold remaining 26%.
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