THE MUMBAI Metropolitan Region Development Authority (MMRDA) will borrow Rs 30,483 crore for carrying out the nine Metro projects. These nine Metro corridors are in various stages of implementation. The decision on borrowing the funds was taken in the MMRDA’s authority meeting held on Thursday.
According to MMRDA, REC Ltd, a Government of India undertaking and a Maharatna Company under Ministry of Power, had, earlier this year, sanctioned a loan of Rs 30,483 crore – Rs 14,434 crore towards electrical & mechanical and associated works, and Rs 16,049 crore for non-electrical and mechanical work. The loan agreement was signed by concerned officials in the presence of Chief Minister Eknath Shinde, and Deputy Chief Minister Devendra Fadnavis.
