Mumbai: In a significant milestone for the development of the Mumbai Metropolitan Region (MMR), the Mumbai Metropolitan Region Development Authority (MMRDA) has secured a major loan from M/s Power Finance Corporation (PFC). The total loan amount of Rs. 31,673.79 crore has been approved to finance nine crucial infrastructure projects that will transform MMR’s transportation landscape.
A formal loan agreement was signed between PFC and MMRDA on Wednesday, marking the financial closure of several high-priority infrastructure projects aimed at enhancing connectivity, boosting economic growth, and improving the quality of life in MMR.
This financial closure is aimed at covering 80 percent of the total project cost, with the remaining portion being supported through a combination of government grants and contributions from MMRDA. Out of the total amount, Rs 15,071 crore will be directed towards the Thane-Borivali Twin Tunnel Project, with an additional Rs 16,602.79 crore allocated to construction of the Thane Coastal Road (Phase I); extension of the Eastern Freeway from Ghatkopar to Thane; construction of an elevated road from National Highway No. 4 to Katai Naka.
The amount will also be directed towards construction of a creek bridge and access roads from Kolshet Thane to Kharbao, Bhiwandi; construction of a creek bridge between Kasarvadavali, Thane and Kharbav; construction of an elevated road from Kalyan Murbad Road (Palms Water Resort) to Badlapur Road (Jagdish Dairy) along with a railway overbridge over the Waldhuni River; construction of an elevated road on the Eastern Express Highway from Anand Nagar to Saket in Thane city and construction of a creek bridge from Gaimukh to Payegaon.
These projects are expected to significantly improve the transportation infrastructure, offering safer, faster, and more sustainable travel options to the citizens of MMR.
This loan agreement marks a pivotal moment in MMRDA’s continued efforts to develop world-class infrastructure, making the region a more connected, sustainable, and vibrant place to live and work.
