Armed with plans announced in the rail and general Budgets, Maharashtra Chief Minister Vilasrao Deshmukh said on Friday the only mantra to make Mumbai a world-class city in next few years was to improve infrastructure.

"Our only mantra is to build world-class infrastructure... in the next two-three years, things will rapidly change... it will be visible", Deshmukh said, ahead of the state Budget on March 20.

"We have to have infrastructure of international standards. When they (foreign investors) come here, they should feel that they are on par with other international cities," Deshmukh told PTI.

"For commercial transactions, industry, stock exchanges, port, airport and other parameters are already in place," he said. For the financial centre, the Centre has already appointed a committee, Deshmukh said. "I had a talk with the committee members. They have submitted a report to the Centre.

"They have to take a final view on that," he added.

Asked if in the backdrop of the present state of affairs in the city, would the new activity shift to Navi Mumbai or the MahaMumbai SEZ of Reliance in adjoining Raigad district, Deshmukh said "building headquarters here or there...it could be in Nariman Point, Bandra-Kurla complex, anywhere...it is not that material."

"What matters is that the international companies and people who come here should get that kind of infrastructure", he said.

Deshmukh said the long-awaited Worli-Bandra sea link project will be completed by April 2008, easing traffic bottlenecks considerably.

"For the second phase of the project, which would be between Worli and Nariman Point, we are in the process of issuing global tenders. This would provide an alternate road link over sea," he said.

"We have been talking about Mumbai's makeover. Phase one, which includes upgradation of railway services and infrastructure like roads and bridges, is already nearing completion," Deshmukh said.

For the second phase, the Centre has already announced Rs 5,000 crore (Rs 50 billion) in Railway Budget, he said.

Tenders would be out in a month for the second phase of the ambitious Mumbai metro project, he said. "Most of these projects are on a build own transfer basis, so there is no problem," he said.

Japan is also willing to finance development projects in Mumbai and other parts of the state, the chief minister said.

"We have asked our officials to identify the projects where Japanese assistance could be taken," he said.

The Japanese are interested in financing road and rail infrastructure in Maharashtra and some irrigation projects, Deshmukh said. "We have had initial discussions with them on the issue and they are more than willing to support us," he said.