IFSC and bullet train to come up at BKC

In a bid to end the controversy on whether the International Financial Service Centre or the bullet train project would find space in Bandra-Kurla Complex, chief minister Devendra Fadnavis said that both would be accommodated. The CM, on Thursday, clarified that the bullet train would be underground and hence would not need the space set aside for the IFSC.

A few days ago, the confusion started after the Rail Corporation officials said that the bullet train would start from BKC, while the state had already planned the IFSC in that location.

On the last day of the ‘Make In India’ week, Mr Fadnavis declared that the IFSC would be built in BKC and soon an agency would be appointed to design and execute the plan. When asked how the state was planning to accommodate both in the same place, the CM said “The IFSC will come right here and also the bullet train. The bullet train will be underground and we have been holding talks with the officials. There is no need for surface land for the bullet train. We will sit with authorities and discuss the issue. I will not give you a chance (media) to create a controversy out of this,” Mr Fadnavis said in a press conference.

Just two days ago, railway board chairman A.K. Mittal had said in the same event that ambitious Mumbai-Ahmedabad high-speed corridor bullet train would come up in BKC. He said that even though the state government had decided to build a finance centre at BKC, the station for the bullet train could still be built there.

Elaborating on the IFSC, the CM said that the two task forces had been appointed to work out the details.

“One task force is to define technicalities of the IFSC and the other is led by Union Minister of State for Finance. We are soon going to appoint a consultant for the design. We are also mulling on whether to rate this as a financial SEZ or not. After a few months, we will be come up with a time frame for the IFSC,” the CM added.

Local politicians and businessmen were upset when the Prime Minister had earlier shifted the IFSC to Gujarat. Covering up the issue, Maharashtra government announced another IFSC in Mumbai at BKC.