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

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Infrastructure Energy

05 Nov 2025

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Infrastructure Urban

05 Nov 2025

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..