Mumbai, June 26 : The first phase of Colaba-SEEPZ Mumbai Metro 3 between SEEPZ and Bandra Kurla Complex will be commissioned by September and the entire project by December end.

The state Cabinet chaired by Chief Minister Eknath Shinde on Wednesday gave its nod to give state government's share of Rs 1,163 crore directly to the Mumbai Metro Rail Corporation, instead of the Mumbai Metropolitan Region Development Authority.

According to the Chief Minister's Office, the project is 98 per cent complete and its revised cost is Rs 37,275.50 crore.

Further, the state Cabinet also cleared a loan of Rs 22,250 crore to be taken from HUDCO for the acquisition of land for the Virar Alibaug multimodal corridor.

The loan proposal for the Cabinet's approval was submitted by the Maharashtra State Road Development Corporation (MSRDC).

The Cabinet also decided to give a government guarantee to MSRDC for the said loan.

The project would need a total of 1,130 hectares of land of which 215.80 hectares have been acquired so far. The government has already provided a sum of Rs 2,341.71 crore for the land acquisition.

The Cabinet also approved MSRDC's proposal to get a loan worth Rs 5,500 crore from HUDCO for the Pune Ring Road East project.

Of the total 972.07 hectares of land, the acquisition of 535.42 hectares has been done. The government has provided Rs 1,876.29 crore for the land acquisition.

/IANS