The Maharashtra Metro Rail Corporation Limited (MahaMetro) has acquired more than 50% of the land needed to build Metro Phase II, an extension of the two corridors of Phase I on all four sides, which will connect the outer periphery of the city.
A total of 9 hectares land will be required for the Phase II development, out of which 36,626 sq m is govt land and 53,809 sq m is private, said MahaMetro managing director Sharavan Hardikar on Thursday during a media interaction. Hardikar also confirmed that work permission for 80% of the land has already been granted and the work has already begun.
To be built at a cost of ₹6,708 crore, Phase II will be ready by December 2027. Currently, Reach 2 works, which extend from Automotive Square to Kanhan, is progressing at full pace, and within a couple of months, other reaches will also join the race, said Hardikar.
On Reach 2, the Metro also has its casting yard, known as Khairi Phata casting yard, where the precast segments of the Metro tracks are built. During a site visit on Thursday, TOI explored the yard and interacted with workers and engineers.
Precast segments of large concrete sections are made in the factory or yard. Once they have cured and gained sufficient strength, they are transported to the construction site, where they are assembled to form parts of the elevated Metro track or viaduct.
“The base, foundation, and the pillars are constructed on-site; however, the segments are built at the yard and later transferred to the site. Currently, we have 25 segments here, and we are planning to make 150 more in a month. The actual requirement is 2,400 segments just for a 7km stretch in Reach 2,” an engineer on the site said.The Phase II project, which kicked off last year, is being funded by the European Investment Bank (EIB) and ADB (Asian Development Bank) alongside funds received from the Centre and state govt. The managing director confirmed that Metro has started receiving funds, with ₹900 crore currently in its account.
Hardikar said Metro aims to reach 2 lakh average ridership per day by the end of 2025. “However, consistent efforts will be needed for the same,” he said. Currently, the Metro is generating a revenue of Rs4 crore every month with the average ridership above 80,000. The ridership has been consistently above 90,000 in the first week of August.
However, Metro generates more revenue from non-fare streams, which is the commercial space given on lease and advertisements etc.
