MMRDA to Raise Rs 8.5 Billion for Urban Infrastructure Development

The Mumbai Metropolitan Region Development Authority (MMRDA) and German development bank KfW have agreed to fund over Rs 8.5 billion for urban infrastructure. MMRDA will also contribute Rs 3.65 billion from its resources, making the total project cost around Rs 12.15 billion. The funds will support sustainable development initiatives like green corridors, waste management systems, recycling facilities, and renewable energy in the Mumbai Metropolitan Region.

Additionally, MMRDA has received in-principle clearance from KfW for two loans worth Rs 47.67 billion for Mumbai’s Metro lines 4 and 4A, which will connect Wadala to Kasarvadavli and Gaimukh in Thane. These 34.82 km elevated lines will have 32 stops, easing commuter traffic and reducing city congestion. KfW’s 545 million-euro loan marks its highest financing to an Indian entity. MMRDA is also developing 14 metro lines totaling 337 km, creating the world’s longest concurrently developing metro network by a single agency.

Source: Construction World

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