It’s possible that the government of Eknath Shinde halted plans to purchase Metro 1. Nonetheless, the state cabinet has directed the MMRDA executive committee to consider a one-time payment for the Rs 1,700 crore debt Mumbai Metro One Pvt Ltd (MMOPL) owes its creditors.
Currently serving 4.6 lakh people daily, Metro 1 is the oldest route in Mumbai and the only one to be implemented by a public-private partnership. 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 26% of the shares.
Source – The Economic Times
