The World Bank has given nod to a $430 million loan to Indian Railways for part financing of its Mumbai Urban Transport Project II (MUTP II), directed at meliorating transport in and around the metropolis.

In reply to a query, Minister of State for Railways K. H. Muniyappa stated that the project consosts of a range of constituents.

These comprise laying pathways between Mumbai's Chhatrapati Shivaji Terminal and Kurla, besides those between Thane and Diva and Mumbai Central and Borivali.

The other constituents comprise expansion of the Harbour Line from Andheri to Goregaon, modification of electrical systems, fabrication and procurance of electrical multiple divisions plus technical and institutional intensification researches.

The other vital part of the project, to be finished by 2014-15, is relocation and renewal of project-affected households in addition to development of stations and constructing infrastructure for modulating access to them.

While the World Bank loan will be utilized for part funding of the project, a portion will also be funded together by the railway department and the state administration, the minister said.