PFC and MMRDA Ink Historic Rs 1 Lakh Crore Deal for Mumbai Infrastructure

Power Finance Corporation (PFC) has signed an MoU with MMRDA to provide Rs 1 lakh crore for infrastructure projects in the Mumbai Metropolitan Region. The agreement was signed in the presence of key officials. This collaboration aims to develop viable infrastructure projects with PFC's financial backing.

In a landmark agreement, the state-owned Power Finance Corporation (PFC) has committed Rs 1 lakh crore to the Mumbai Metropolitan Region Development Authority (MMRDA) for infrastructure projects. The Memorandum of Understanding (MoU) was signed on Tuesday, signaling a major boost for infrastructure development in Mumbai.

Witnessed by Maharashtra Chief Minister Devendra Fadnavis, the signing included key figures such as PFC Director (Projects) Rajiv Ranjan Jha and Metropolitan Commissioner MMRDA Sanjay Mukherjee. The collaboration is set to provide significant financial support for various viable infrastructure projects in the region.

PFC, a non-banking financial company under the Ministry of Power, aims to establish a strong partnership with MMRDA, enhancing the economic framework of the Mumbai Metropolitan Region through this significant financial initiative.

(With inputs from agencies.)