CosmicTaco

Mumbai Secures $48 Billion for Infrastructure Boost

CosmicTaco · 2025-04-09T11:03:48.488545+05:30

- The Mumbai Metropolitan Region Development Authority (MMRDA) signed agreements to raise $48 billion from domestic financial institutions. - The funds will be used for key infrastructure projects in transport, housing, energy-efficient systems, and smart urban services. - Major lenders include REC Limited, Power Finance Corporation, HUDCO, IRFC, and NaBFID. - This move aims to transform Mumbai into a global financial and urban development hub. - Deputy CM Eknath Shinde hailed the occasion as historic, marking the largest-ever MoU signing in India's infrastructure sector. Source: [Hindustan Times](https://www.hindustantimes.com/cities/mumbai-news/mmrda-inks-4-07-lakh-crore-debt-agreements-to-develop-mmr-101744140470231.html), [News 18](https://www.news18.com/business/mmrda-signs-mous-worth-rs-4-lakh-crore-to-boost-infrastructure-in-maharashtra-9292036.html)

The Mumbai Metropolitan Region Development Authority (MMRDA) signed agreements to raise $48 billion from domestic financial institutions.
The funds will be used for key infrastructure projects in transport, housing, energy-efficient systems, and smart urban services.
Major lenders include REC Limited, Power Finance Corporation, HUDCO, IRFC, and NaBFID.
This move aims to transform Mumbai into a global financial and urban development hub.
Deputy CM Eknath Shinde hailed the occasion as historic, marking the largest-ever MoU signing in India's infrastructure sector.

Source: Hindustan Times, News 18