MMRDA to raise Rs 60,000 cr loan for infra projects

The Mumbai Metropolitan Region Development Authority (MMRDA) has received permission from the Maharashtra government to raise a Rs 60,000 crore loan for infrastructure projects. According to officials, the Maharashtra government has decided to stand as a guarantor for the loans and stamp duty on the government guarantee has been waived off for an amount of Rs 12,000 crore to be raised in the first phase. Infrastructure projects which include metro rail works, Thane-Borivali underground route, Thane coastal road, and Sewri-Worli Connector, worth Rs 1,74,940 crore are underway in the Mumbai Metropolitan Region.