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 […]
After three months, the government reverses course and buys out R-Infra’s Metro-1 stake
MUMBAI: Three months after sanctioning it, the state government has changed its mind about acquiring the Versova-Andheri-Ghatkopar Metro-1. During a Tuesday cabinet meeting, the decision was made. The city’s oldest route, Metro-1, is the only one developed under a public-private partnership. Mumbai Metro One Private Ltd (MMOPL), a special purpose vehicle (SPV), is in charge […]