The Mumbai Metropolitan Region Development Authority (MMRDA) has reportedly, called on domestic and international investors to fund its infrastructure development projects that are estimated to be worth around Rs 1 trillion.
As reported, the MMRDA Commissioner R A Rajeev engaged in discussions with representatives of 16 financial institutions that consisted of TATA AIA Life, Goldman Sachs, Reliance, Enama Holdings, Nippon Life Asset Management, Nippon Life Company, Principal Asset Management, Suyash Advisors, Invesco Mutual Fund, IDBI Federal Life Insurance, Quantum Advisors, Avendus Capital, Aviva Life Insurance Co, HDFC Asset Management, Tata Asset Management and CPP Investment Board.
The town planning body has a range of projects lined up, spread across the metropolitan region that include the Mumbai-Trans Harbour Link, a multi-modal corridor and the 14 line metro network that is 337 km long. All projects combined provide investors with business opportunities that reportedly run into thousands of billions.
Up until now, the authority’s projects that are being implemented on an EPC basis have seen investments from agencies like the World Bank, Asian Development Bank and Japan International Cooperation Agency.