The plan to purchase Metro 1 from Anil Ambani is approved by the state cabinet

On 21 May, 2024, the State cabinet approved in principle the acquisition of Ghatkopar-Versova Mumbai Metro One owned by Anil Ambani and Mumbai Metropolitan Region Development Authority (MMRDA). Ambani’s stake is estimated around ₹4,000 Crore.

Mumbai Metro One was the first metro that was undertaken under the Build-Operate-Transfer (BOT) policy in 2007. MMRDA has a 26% stake in the venture, called Mumbai Metro One Pvt Ltd (MMOPL), whereas Ambani has a 74% stake. Ultimately, several MMRDA commissioners were against doing a project with a private firm.

Source – Microsoft Start News

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