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 […]
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 […]
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 […]