Railroad Board looking for an in-principal endorsement for the project which is constructing a 55-km long lifted hallway interfacing CSTM and Panvel with a branch that will run till Navi Mumbai International Airport (NMIA). MRVC has submitted a proposition to resuscitate its driven CSMT-Panvel elevated corridor with Maglev trains on a Public-Private-Partnership (PPP) model.
MRVC has said that private venture is anticipated to cover the cost of construction, operation and running of the Maglev trains. In any case, the government will need to pay for resettlement and rehabilitation instead of land securing and utility moving, which is allowed on a 50:50 cost-sharing premise between the Mumbai Rail Vikas Corporation (MRVC) has written a letter to the Maharashtra Government and the Government of Maharashtra and the Ministry of Railways. Nitin Kareer, Principal Secretary of State Urban Development department said that they are awaiting comments from MMRDA and CIDCO over the land needed for the project along with the cost that the government will have to bear.
Maglev is a technology that employments two sets of magnets to create the train levitate over the rails and impel it ahead, subsequently dispensing with the requirement for wheels, axles, and transmission or overhead wires. Prior, it was proposed in 2008 on six routes from Panvel, Alibaug and Nariman Point. However, the project never took off. MRVC had prior proposed to construct CSMT-Panvel hoisted passage at an assessed fetched of Rs 10,870 crore and needed to incorporate this venture beneath MUTP 3A but did not get the Cabinet endorsement due to huge cost. The Union Government has recommended MRVC execute the project through the PPP model whereas taking ridership under consideration.
A Switzerland-based SwissRapide AG in a joint venture with Indian firm Lasane Infra Private Limited has as of late sent an expression of interest (EoI) to create and run maglev trains on the CSTM-Panvel hallway at an evaluated cost of Rs 13,347 crore. The Swiss firm has proposed to run eight-coach Maglev trains which would have a capacity to suit 2,872 travelers and the train will run with a recurrence of three minutes on the CSTM-Panvel hallway and 8.6 minutes for the NMIA.