MMRDA seeks 35% metro funding from BMC and centre
RAILWAYS & METRO RAIL

MMRDA seeks 35% metro funding from BMC and centre

In an attempt to expedite the numerous Metro projects in the city, the financially strained Mumbai Metropolitan Region Development Authority (MMRDA) has requested 10% of the funds required for the works from the union government and 25% from the BMC.

It is noted that MMRDA is grappling with a funds shortage, considering the substantial amount earmarked for infrastructure spending in this decade. The combined cost of 10 Metro projects, excluding Metro 3 (Colaba-Bandra-Seepz) and Metro 1 (Versova-Andheri-Ghatkopar), amounts to Rs 750 billion.

A senior official mentioned, "Since Sanjay Mukherjee assumed the role of metropolitan commissioner, there have been endeavours to generate resources for various infrastructure projects."

In addition to capitalising on its assets, MMRDA has engaged SBI Capital Markets to secure loans. However, a consistent flow of funds is required to carry out significant projects. An MMRDA official stated, "MMRDA will allocate another 15% from its own funds, and the remaining 50% will be raised through loans."

MMRDA has allocated an expenditure of Rs 287.05 billion for diverse infrastructure projects, encompassing Metro corridors, the Mumbai Trans Harbour Link, the Versova-Vasai sea bridge, the subterranean road connecting the Eastern Freeway and Marine Drive, among others, in the fiscal year 2023-24.


In an attempt to expedite the numerous Metro projects in the city, the financially strained Mumbai Metropolitan Region Development Authority (MMRDA) has requested 10% of the funds required for the works from the union government and 25% from the BMC.It is noted that MMRDA is grappling with a funds shortage, considering the substantial amount earmarked for infrastructure spending in this decade. The combined cost of 10 Metro projects, excluding Metro 3 (Colaba-Bandra-Seepz) and Metro 1 (Versova-Andheri-Ghatkopar), amounts to Rs 750 billion.A senior official mentioned, Since Sanjay Mukherjee assumed the role of metropolitan commissioner, there have been endeavours to generate resources for various infrastructure projects.In addition to capitalising on its assets, MMRDA has engaged SBI Capital Markets to secure loans. However, a consistent flow of funds is required to carry out significant projects. An MMRDA official stated, MMRDA will allocate another 15% from its own funds, and the remaining 50% will be raised through loans.MMRDA has allocated an expenditure of Rs 287.05 billion for diverse infrastructure projects, encompassing Metro corridors, the Mumbai Trans Harbour Link, the Versova-Vasai sea bridge, the subterranean road connecting the Eastern Freeway and Marine Drive, among others, in the fiscal year 2023-24.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code