The Cabinet Thursday approved the Mumbai Metro Line phase-III which will link Colaba-Bandra-Santacruz Electronics Export Processing Zone corridor, Finance Minister P. Chidambaram said Friday.
According to the finance minister, the project will be executed by the central and the state governments with an equity participation on 50:50 basis.
The total cost of the 33.5-km underground project is estimated at Rs.23,136 crore. It is scheduled to be completed in six years.