The decisions were taken in the state cabinet meeting chaired by Chief Minister Eknath Shinde.
Reliance Infrastructure is fully geared to deliver the project in 60 months from the appointed date of June 24, 2019, as per the contract, Reliance Infrastructure said in a BSE filing.
Transport projects worth Rs 60,000 crore are languishing due to red tape, while the city continues to struggle against bottlenecks created by many of them.