State Clears International Loan Guarantee for Six Mumbai Metro Corridors

25 Jul 2025 CW Team

The corridors that will benefit from this funding mechanism include Metro Line 5 (Thane–Bhiwandi–Kalyan), Line 6 (Swami Samarth Nagar–Vikhroli), Line 7A (Dahisar East–Mumbai Airport), Line 9 (Dahisar East–Mira Bhayander), Line 10 (Gaimukh–Shivaji Chowk, Mira Road), and Line 12 (Kalyan–Taloja).

According to a recent government resolution, MMRDA will be permitted to secure loans from bilateral and multilateral agencies or other international financial institutions. The loans may be availed on a back-to-back basis or through other appropriate methods, with interest rates expected to be concessional.

While the Metro corridors had previously received Cabinet approval, the absence of state-backed guarantees was reportedly hindering access to foreign-assisted funding. The new resolution addresses this by providing contingent liability support from the state, thereby acting as a guarantor in case of default or exceptional circumstances.

However, the MMRDA will remain the primary entity responsible for repaying the principal amount, interest, and associated fees. Additionally, the authority will bear any extra costs arising from delays, litigation, or unforeseen issues.

“This backing by the state government provides funding certainty and enables us to go ahead with loan arrangements needed for these important infrastructure projects,” an MMRDA official said.

The resolution also authorises MMRDA and the Urban Development Department to finalise loan agreements with banks and enter into project and financial agreements with the central government, wherever applicable. These agreements will outline key aspects such as loan tenure, interest payments, and terms of repayment.

“The loan process was at an advanced stage, but needed the state to intervene for guarantee and risk mitigation. With this clearance, we are getting closer to arranging the funds and completing project timelines,” the official added.

News source: The Indian Express

The Maharashtra government has approved a financial framework allowing the Mumbai Metropolitan Region Development Authority (MMRDA) to raise international loans against six on-going Metro projects. The move is expected to expedite infrastructure development across key corridors in the Mumbai region.The corridors that will benefit from this funding mechanism include Metro Line 5 (Thane–Bhiwandi–Kalyan), Line 6 (Swami Samarth Nagar–Vikhroli), Line 7A (Dahisar East–Mumbai Airport), Line 9 (Dahisar East–Mira Bhayander), Line 10 (Gaimukh–Shivaji Chowk, Mira Road), and Line 12 (Kalyan–Taloja).According to a recent government resolution, MMRDA will be permitted to secure loans from bilateral and multilateral agencies or other international financial institutions. The loans may be availed on a back-to-back basis or through other appropriate methods, with interest rates expected to be concessional.While the Metro corridors had previously received Cabinet approval, the absence of state-backed guarantees was reportedly hindering access to foreign-assisted funding. The new resolution addresses this by providing contingent liability support from the state, thereby acting as a guarantor in case of default or exceptional circumstances.However, the MMRDA will remain the primary entity responsible for repaying the principal amount, interest, and associated fees. Additionally, the authority will bear any extra costs arising from delays, litigation, or unforeseen issues.“This backing by the state government provides funding certainty and enables us to go ahead with loan arrangements needed for these important infrastructure projects,” an MMRDA official said.The resolution also authorises MMRDA and the Urban Development Department to finalise loan agreements with banks and enter into project and financial agreements with the central government, wherever applicable. These agreements will outline key aspects such as loan tenure, interest payments, and terms of repayment.“The loan process was at an advanced stage, but needed the state to intervene for guarantee and risk mitigation. With this clearance, we are getting closer to arranging the funds and completing project timelines,” the official added.News source: The Indian Express

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Equipment

10 Mar 2026

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

Equipment

10 Mar 2026

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..