Maharashtra Releases Rs 606m ADB Loan For Mumbai Metro

23 Dec 2025 CW Team

The Government of Maharashtra has approved the release of Rs 605.9 million to the Mumbai Metropolitan Region Development Authority from loan proceeds received from the Asian Development Bank for Mumbai Metro Lines 2A, 2B and 7.

The release forms part of an external borrowing arrangement under which ADB is financing the construction of key elevated metro corridors in Mumbai. As per the funding mechanism, MMRDA initially incurs project expenditure and later seeks reimbursement. Once cleared by ADB, the funds are routed through the Government of India to the state, which then disburses the amount to MMRDA as a loan through budgetary provisions.

With this tranche, the cumulative loan amount released to MMRDA under ADB assistance for the three metro corridors has reached Rs 36.42 billion. Mumbai Metro Line 2A (Dahisar West–DN Nagar) and Line 7 (Andheri East–Dahisar East) are already operational, while Line 2B (DN Nagar–Mandale) is currently under construction.

Last month, the state government had also extended interest-free loan support for these projects, allocating Rs 496.3 million to Line 7, Rs 1.13 billion to Line 2B and Rs 287.9 million to Line 2A.

The metro corridors are seen as critical to improving east–west and north–south connectivity in the Mumbai Metropolitan Region, easing congestion on roads and reducing pressure on the suburban rail network.

Infrastructure Urban

06 Apr 2026

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..

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..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..