Maharashtra government will pay off Rs 1,700 crore in metro debt owed by Reliance Infrastructure arm

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

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