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The Times of India

National

Manthank Mehta | TNN

Mumbai: MMRDA to take Rs 60,000 crore loan for infrastructure projects

Mumbai Metro MMR Shiv Sena

MUMBAI: The Mumbai Metropolitan Region Development Authority (MMRDA) has been allowed by the new state cabinet to raise Rs 60,000 crore in loans. In Phase I, the authority will borrow Rs 12,000 crore, for which the Shiv Sena-BJP government has decided to stand guarantor to fund various infrastructure projects in the Mumbai Metropolitan Region (MMR).

CM Eknath Shinde made the announcement at a post-cabinet briefing on Saturday. Metropolitan commissioner SVR Srinivas said: "We will need this money to execute existing and future projects in MMR."

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