The Maharashtra cabinet on Thursday gave nod for Rs 949-crore Kasarvadavali-Gaikmukh Metro route (Metro 4A) which will cut the travel time between south Mumbai and neighbouring Thane city.
The cabinet also allowed the Mumbai Metropolitan Region Development Authority (MMRDA) to raise funds from domestic as well as international financial institutions for the project, an official in the Chief Minister's office said.
The Detailed Project Report (DPR) for the extension of Metro 4A route had been approved earlier this year at a meeting of the MMRDA.
Chief Minister Devendra Fadnavis is the chairman of the MMRDA, a planning body for the Mumbai region.
The 2.7-km extension will ensure that the entire Ghodbunder Road in Thane city is connected by Metro.
It will be part of 32-km long Wadala-Ghatkopar-Mulund-Thane Kasarvadavali corridor which has already been approved.
The project will benefit 8.7 lakh commuters and is expected to be completed by March 2022, officials said.
Prime Minister Narendra Modi earlier this month inaugurated work on Thane-Bhiwandi-Kalyan (Metro 5) and Dahisar-Mira Bhayander (Metro 9) routes.
At present, work on several metro corridors is underway across the megapolis, including Dahisar-DN Nagar (Metro-2A), DN Nagar-Mankhurd (Metro-2B), Andheri (East)- Dahisar (Metro-7), Colaba-Bandra-Seepz (Metro-3), elevated Wadala-Kasarvadavali (Metro 4) and Swami Samarthnagar- Jogeshwari-Vikhroli (Metro-6).
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)