The Brihanmumbai Municipal Corporation (BMC) will divert Rs 500 crore for coastal road project from special funds created for infrastructure projects. The work on the 10.58-km western freeway from Princess Street Flyover in Marine Lines to Worli end of Bandra-Worli Sealink road has completed about 50 per cent.
Officials from Coastal Road department said that Rs 2,000 crore budget allocated for the project in 2021-22 has been consumed for the Rs 12,721 crore project. “The allocated funds for the project has been consumed and now, payments for consultants and contractors for the already completed work needs to be paid by the end of January. To meet the requirements, the funds will be diverted to the coastal road department from a special fund of infra projects,” said an official from BMC.
A proposal of diverting Rs 500 crore for the coastal road department will be tabled before the Standing Committee for approval. Considering the infrastructure works planned in the city, the BMC has started using funds from fixed deposits to meet the requirements.
The coastal road is expected to be completed by end of 2023.