The Rs 23,136 crore Mumbai Metro line-3, which would link Colaba, Bandra, Santacruz Electronics Export Processing Zone, received approval from the union cabinet recently.
The cabinet also approved the plant to set up a joint venture between the centre and Maharashtra government with equal shareholding between them.
In line with the Delhi, Bangalore, Chennai and Kochi metro projects, the present special purpose vehicle (SPV), called MMRC, would be converted into a join partnership.
The project, which would cover a total of 33.5 kilo metre, is scheduled to be completed by March 2019, while work may start by this financial year.
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