Maharashtra Govt Releases Rs 1.43 Bn for MUTP-III Works
RAILWAYS & METRO RAIL

Maharashtra Govt Releases Rs 1.43 Bn for MUTP-III Works

The Maharashtra government has released Rs 1.43 billion to the Mumbai Railway Vikas Corporation (MRVC) to carry out works under the Mumbai Urban Transport Project (MUTP)-III, aimed at reducing congestion on the city’s suburban railway network.

According to a government resolution (GR) issued by the Urban Development Department, Rs 1.24 billion of the sanctioned amount has been provided as additional central assistance from the Asian Infrastructure Investment Bank (AIIB). The loan is being routed to MRVC through the Mumbai Metropolitan Region Development Authority (MMRDA).

The state clarified that the disbursed funds are classified as non-recurring assistance and come with strict conditions on their utilisation.

MUTP-III is a critical infrastructure initiative focused on enhancing Mumbai’s suburban rail services, which cater to millions of commuters daily. The fresh disbursement is expected to accelerate project execution and bring relief to one of the busiest urban transport systems in the country.

News source: Mid-Day

The Maharashtra government has released Rs 1.43 billion to the Mumbai Railway Vikas Corporation (MRVC) to carry out works under the Mumbai Urban Transport Project (MUTP)-III, aimed at reducing congestion on the city’s suburban railway network.According to a government resolution (GR) issued by the Urban Development Department, Rs 1.24 billion of the sanctioned amount has been provided as additional central assistance from the Asian Infrastructure Investment Bank (AIIB). The loan is being routed to MRVC through the Mumbai Metropolitan Region Development Authority (MMRDA).The state clarified that the disbursed funds are classified as non-recurring assistance and come with strict conditions on their utilisation.MUTP-III is a critical infrastructure initiative focused on enhancing Mumbai’s suburban rail services, which cater to millions of commuters daily. The fresh disbursement is expected to accelerate project execution and bring relief to one of the busiest urban transport systems in the country.News source: Mid-Day

Next Story
Infrastructure Urban

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Next Story
Infrastructure Urban

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Next Story
Infrastructure Energy

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement