Gurugram (21.10.2022): REC Ltd, a Maharatna CPSE under Ministry of Power, signed a loan agreement with Mumbai Metropolitan Region Development Authority (MMRDA) for nine metro projects being developed in the Mumbai Metropolitan Region (MMR). A major portion of the required funds to the tune of ₹14,434 Cr is being extended by REC for Electro Mechanical (EM) works. Apart from this, REC has also in-principal agreed to loan ₹16,049 Cr towards Non-EM works.
The Maharashtra government has declared projects as ‘Public vital infrastructure projects’. The project will have many positive impacts like reduction in traffic congestion, saving in travel time, reduction in air and noise pollution and lesser consumption of fuel. The total route length of the nine lines funded by REC is 154 km.
REC signs a loan agreement with MMRDA for 9 metro projects
By IndianMandarins - 2022-10-21 13:22:00
Gurugram (21.10.2022): REC Ltd, a Maharatna CPSE under Ministry of Power, signed a loan agreement with Mumbai Metropolitan Region Development Authority (MMRDA) for nine metro projects being developed in the Mumbai Metropolitan Region (MMR). A major portion of the required funds to the tune of ₹14,434 Cr is being extended by REC for Electro Mechanical (EM) works. Apart from this, REC has also in-principal agreed to loan ₹16,049 Cr towards Non-EM works.
The Maharashtra government has declared projects as ‘Public vital infrastructure projects’. The project will have many positive impacts like reduction in traffic congestion, saving in travel time, reduction in air and noise pollution and lesser consumption of fuel. The total route length of the nine lines funded by REC is 154 km.
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