Cidco makes budgetary provision of over Rs 11,000-cr for infra development in budget

Thane: The state-run City and Industrial Development Corporation (Cidco) Tuesday earmarked Rs 11,000 crore in its FY 20 budget for project developments under its administrative areas.

The body presented a Rs 3,462-crore deficit budget, wherein it plans to spend Rs 11,260 crore on projects and will earn a revenue of Rs 7,797 crore, according to an official statement.

The projects in which the investments are likely to be made include Navi Mumbai International Airport, Navi Mumbai Metro, Nerul-Uran railway line, a housing scheme for 89,771 tenements based on the concept of transit-oriented development, building a headquarters for Palghar district and a cultural complex at Kharghar.

 Cidco makes budgetary provision of over Rs 11,000-cr for infra development in budget

Cluttered locations. Image courtesy CIDCO

The Rs 11,000-crore bill includes both the project cost and compensation to be given to the project-affected people.

The statement also gave a status update on the major projects, stating 93 percent of the pre-development works for the airport is over, while 83 percent of the work around migrating the PAPs for the airport is also complete.

The trial of the metro railway is expected to be conducted online from Belapur to Pendhar in November, it added.

Updated Date: Jul 10, 2019 10:20:05 IST