Overview

• The state government endorsed a Build-Operate-Transfer framework for Phase 1 of the 126 km Virar-Alibaug Multi Modal Corridor, replacing the earlier EPC approach.
• Cabinet sanctioned Rs 37,013 crore for the initial 96.41 km stretch, including Rs 22,250 crore for land acquisition and Rs 14,763 crore towards financing costs.
• Previous tenders by MSRDC were scrapped after bids exceeded budget estimates by over 30%, prompting a fresh procurement process.
• The first leg will link Navghar in Palghar to Balavali in Pen taluka and is designed to cut Virar-Alibaug travel times to about 1.5 to 2 hours while decongesting Mumbai.
• Officials also cleared the transfer of 29 hectares in Nashik for a Tribal Industrial Cluster aimed at boosting employment and inclusive growth.