MUMBAI: The Mumbai Metropolitan Region Development Authority (MMRDA) has signed an agreement with South Korea for the preparation of a master plan for developing the eastern parts of the city along the proposed 126-km long Virar-Alibaug multi-modal corridor.
MMRDA, the nodal state agency for infrastructure development in the Mumbai Metropolitan Region, has signed an MoU with the Korean ministry of Land, Infrastructure and Transport, it said in a statement.
"We are sure the corridor, which passes through the eastern part of the MMR, will trigger urbanisation in the surrounding areas and a master plan for this will be necessary for its orderly development. The study will also identify growth centers which will afford stability to the spill-over areas," MMRDA Additional Metropolitan Commissioner Ashwini Bhide said.
The Korean model of land use development has faced similar constraints as in India and could be suitably modified and used in developing the eastern MMR, especially around the corridor, she said.
"By roping in the Korean expertise and best practices we will be able to use the land itself as a resource to fund our infrastructure requirements," Bhide added.
The Korean team will work with MMRDA's planners and is expected to come up with a detailed master plan and land development models along with funding patterns. Its work will start from January next year, the release said.
The entire study will be funded by the Korean government which will also involve training of high-level officials of MMRDA.
"The study will enable MMRDA approach global funding agencies such as World Bank and Japanese Cooperation Agency (JICA) for funding of the project," Bhide said.