MMRCL to get Rs 1.88 billion, Pune Metro Rs 1.65 billion for transport projects
RAILWAYS & METRO RAIL

MMRCL to get Rs 1.88 billion, Pune Metro Rs 1.65 billion for transport projects

Just ahead of the launch of Phase I of Metro Line 3, the Maharashtra state government has announced the disbursement of funds collected through an additional 1% stamp duty on property transactions within municipal corporation areas to support urban transport initiatives. As part of this allocation, Mumbai Metro Rail Corporation Limited (MMRCL) will receive Rs 1.88 billion, while Pune Metro Rail will be provided Rs 1.65 billion.

In a government resolution issued, the state’s Urban Development Department confirmed that these funds are being allocated as outlined in the 2024-25 budget under the additional tax surcharge aimed at boosting infrastructure and public transportation projects across the state. (ET)

Just ahead of the launch of Phase I of Metro Line 3, the Maharashtra state government has announced the disbursement of funds collected through an additional 1% stamp duty on property transactions within municipal corporation areas to support urban transport initiatives. As part of this allocation, Mumbai Metro Rail Corporation Limited (MMRCL) will receive Rs 1.88 billion, while Pune Metro Rail will be provided Rs 1.65 billion. In a government resolution issued, the state’s Urban Development Department confirmed that these funds are being allocated as outlined in the 2024-25 budget under the additional tax surcharge aimed at boosting infrastructure and public transportation projects across the state. (ET)

Next Story
Infrastructure Urban

Paras Defence Subsidiary Wins Rs 460 Mn Anti-Drone Order

Paras Defence and Space Technologies (PDST) saw its shares rise 1.5 per cent to Rs 701 after its subsidiary, Paras Anti-Drone Technologies, secured a defence contract from the Ministry of Defence, Government of India, valued at approximately Rs 460.19 million.The order covers the supply of Anti-Drone Systems, including Drone Jammers, marking a significant milestone for Paras Anti-Drone in India’s growing counter-UAV segment. The contract is scheduled for execution by March 2026. According to official filings, the award is from a domestic entity, not a related party transaction, and no promot..

Next Story
Building Material

Jindal Stainless Launches First Stainless Steel Fabrication Unit in Mumbai

Jindal Stainless, India’s largest stainless steel manufacturer, through its subsidiary Jindal Stainless Steelway (JSSL), has inaugurated its first stainless steel fabrication unit at Washivali, Patalganga, Mumbai. The 4 lakh sq ft facility is designed to serve the bridge sector, fabricating critical components such as girders, arches, nuts, bolts, and handles. The unit was inaugurated by CEO & CFO Tarun Khulbe in the presence of senior leadership.Developed with an initial investment of Rs 1.25 billion, the facility strengthens Jindal Stainless’ position as a provider of end-to-end fabr..

Next Story
Infrastructure Energy

Hero Future Energies Secures Rs 19.08 Bn for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19,080 million in funding from State Bank of India (lead) and Canara Bank for the development of its 120 MW renewable energy (RE) hybrid project in Kurnool, Andhra Pradesh.The project, contracted with SJVN, integrates wind, solar, and storage technologies to provide reliable peak power. The funding, structured with a 21-year repayment tenure, will support timely project execution and the commencement of commercial operations.This financial closure underscores the banking community’s confidence in ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?