Maharashtra will pay off its Rs 1.7k crore debt instead of purchasing Mumbai Metro 1

The state cabinet has instructed MMRDA’s executive committee to investigate paying out Mumbai Metro One Pvt Ltd (MMOPL)’s lenders in full, even though the Shinde government has postponed its ambitions to purchase Metro 1.

Metro 1, the city’s oldest route, is the only one run by a public-private partnership. It presently serves 4.6 lakh people per day. It is managed by the MMOPL, a special purpose entity supported by Reliance Infrastructure. Anil Ambani’s R-Infra owns 74% of the SPV, with MMRDA holding a 26% share.

Source – Times of India

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