Mumbai Maharashtra would be investing up to USD 60 billion for infrastructure upgradation in the Mumbai Metropolitan Region over the next two decades. The first phase (costing Rs 1,10,000 crore) will be completed by 2016, the second by 2021, and the last phase by 2031, state Chief Secretary Ratnakar Gaikwad said here today. The infrastructure in Mumbai, often criticised as grossly insufficient for the population of over 1.3 crore, will receive a boost due to the investment, he said. The projects would be financed by the government as well through the public-private-partnership route. "Forty percent of the money will come from PPPs and the rest from inter-governmental transfers," Gaikwad said. Projects to be undertaken under the USD 60 billion plan are spread over the transport, water supply, solid waste management, power, and tourism sectors, he said. Finances of around Rs 43,000 crore have already been tied-up, while projects worth Rs 10,000 crore, including the Mumbai metro and monorail project, have already started, he said. Gaikwad exuded confidence that funds would be raised, and said that in 70 per cent of the projects that are underway, the investment was through PPP route. Mumbai Trans-Harbour Sea Link (which will connect Sewri and Nhava Sheva port) and the Navi Mumbai airport are a part of this three-phase programme, Gaikwad said.