MMRDA undertakes various ambitious metro line projects to weave a metro network in Mumbai Metropolitan region

MMRDA has undertaken various ambitious metro line projects to weave a metro network in the Mumbai Metropolitan region to ensure smooth travel for Mumbaikars.

More details:

  • Considering the ambitious nature of these projects, these projects require huge capital investment in the initial stage.
  • For 9 Metro Lines which are under various implementation stages by MMRDA, REC Ltd, a Government of India undertaking and a Maharatna Company under Ministry of Power has sanctioned in May 2022 a Loan of Rs. 30,483 crs (Rs. 14,434 crs towards Electrical & Mechanical and associated works and Rs. 16,049 crs or in principle for non Electrical & Mechanical work) was approved.
  • Said loan agreement has been signed by concerned officials in presence of Hon. Mr. Eknath Shinde, Chief Minister of Maharashtra State and Hon. Mr. Devendra Fadnavis, Dy. Chief Minister of Maharashtra State.

About MMRDA:

  • MMRDA was set up on the 26th January, 1975 under the Mumbai Metropolitan Region Development Authority Act, 1974 by the Government of Maharashtra as an apex body for planning and co-ordination of development activities in the Mumbai Metropolitan Region comprising Mumbai and its influence area.
  • Its activities are:
    • Development planning for the region
    • Provision of regional infrastructure
    • Promotion of growth centres
    • Provision and Development of Financial centers
    • Development coordination for the region
  • The MMRDA prepares plans; formulates policies and programs; implements projects and helps in directing investments in the Region. In particular, it conceives, promotes and monitors the key projects for developing new growth centers and brings about improvement in sectors like transport, housing, water supply and environment in the Region.

Source: MMRDA- Press Release | Image Credit: MMRDA