MMRDA to raise private and government funds for major infrastructure projects

      Comments Off on MMRDA to raise private and government funds for major infrastructure projects

The Mumbai Metropolitan Area Development Authority (MMRDA) is actively in talks with private and government lending agencies to raise funds for its ongoing big budget infrastructure and metro projects. In July, the Maharashtra cabinet, led by CM Eknath Shinde, had authorized the authority to raise a total of Rs 60,000 crore (additional required) for smooth execution of proposed and ongoing infrastructure projects.

The MMRDA is carrying out many metro projects in the Mumbai Metropolitan Region (MMR) which exclusively require Rs 12,000 crore out of the total of Rs 60,000 crore. The remaining amount will be used for the construction of other big budget infrastructure projects including the Mumbai Trans Harbor Sealink, the Sewri-Worli Connector, the Thane Coastal Road Project and the East Expressway Extension. East to Thane, among others.

MMRDA leader SVR Srinivas (IAS) told the YOF that out of the total funds of Rs 60,000 crore required for the infrastructure projects, the authority is trying to raise them from different sources. In fact, Srinivas recently met with REC – an Indian government enterprise finance agency – in this regard. “An internal discussion on the loan is ongoing,” he said. The annual budget of MMRDA for 2022-2023 is Rs 18,404.63 crore.

(To receive our daily E-paper on WhatsApp, please Click here. To receive it on Telegram, please Click here. We allow the PDF of the document to be shared on WhatsApp and other social media platforms.)