Mumbai Urban Transport Project receives Rs 5.79 bn from Indian Railways

05 Feb 2019 CW Staff

The Indian Railways has been reportedly allotted funds for improving the suburban rail system and its expansion in Mumbai. The Indian Railways has sanctioned Rs 5.79 billion for various phases of Mumbai Urban Transport Project (MUTP). The funds have been reportedly approved for the ongoing projects along with the expansion of suburban rail.

These projects fall under MUTP and the remaining half of the sanctioned Rs 5.79 billion is expected to be provided by the Maharashtra Government. The MUTP-3A, which is worth Rs 547.7 billion, has reportedly received funds of Rs 500 million. These include new rail corridors of a fast line between CSMT-Panvel, Panvel-Virar, extending harbour line on Goregaon-Borivali stretch, five-six lines on Borivali-Virar, three-four lines on Kalyan-Badlapur and fourth line on Kalyan-Asangaon. It is touted to be the largest funded rail project ever in the history.

Also, by the end of February, the MUTP-3A is expected to get a clearance from the cabinet of ministers. This being the last stage, the work on the multi-million project is expected to commence soon.

Rs 2.45 billion has been reportedly sanctioned for projects that have been going on for over a decade under MUTP-2 . These include Thane-Diva five-six lines, sixth line between Mumbai Central-Borivali and five-six lines between Kurla-CSMT. All these lines will segregate suburban trains from long distance ones.

Besides, MUTP-3 has got Rs 2.84 billion, which will be in addition to Rs 5.19 billion that was received last year in the budget.

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..