Supported by fresh funding commitments, the authority plans to invest more than Rs 4.07 lakh crore or $ 48 billion in the next five years to support the change in the area in the high-output economic sector.
Financing support for this important investment scheme Rural Electrification Corporation (REC), Power Finance Corporation (PFC), Housing and Urban Development Corporation (HUDCO), Indian Railway Finance Corporation (IRFC), and National Bank for Financing Infrastructure (Nabfid) including Indian financial institutions including Indian financial institutions including Indian financial institutions including Will come through non-dialogue lines.
“With this historic infusion of Rs 4.07 lakh crore from major financial institutions in India, MMRDA has been designed to change Mumbai's footsteps. The idea of 'Mumbai' in minutes-where any two digits can be reached within 59 minutes in the region-now it is not a distant dream.
According to him, these rows of credits empower MMRDA to rapidly track a new generation of infrastructure-the patro corridors, elevated roads, multimodal integration, and uninterrupted urban transit to ensure that citizens spend more time spending less time and living more time.
Credit lines will be used to finance urban transport, housing, multimodal connectivity, energy system and digital urban services. Projects are part of a large scheme to increase economic activity in the Mumbai Metropolitan Area (MMR), which has been identified by Niti Aayog as one of the four pilot areas under its Growth Hub program. Other areas are Surat, Visakhapatnam and Varanasi. The Growth Hub Roadmap of MMR includes aiming to increase the economic production of the region by 2030 and generate more than three million jobs. MMRDA is planning to adopt a 20:80 equity-to-debate model to implement projects under new credit lines.
Hadco has performed Rs 1.5 lakh crore to support housing, transport and urban development. REC and PFC have increased separate credit lines of Rs 1 lakh crore, which focuses on energy efficiency, urban dynamics and related infrastructure.
IRFC has promised Rs 50,000 crore for metro, suburban rail and multimodal transport networks. Nabfid will provide Rs 7,000 crore for transport and urban services including smart infrastructure.
In this structure, each participating institute has committed to the full value of its approved credit line for a certain period of five years. Credit pool of Rs 4.07 lakh crore has been structured to finance only bankable projects, with the final rate of interest rates through non-exclusive competitive bid.
This arrangement allows lenders to operate the concurrent financial assessment of each project, allowing more rigorous investigation and timely evaluation of financial viability at each stage of implementation.
According to experts, these are not a standard memorandum, but a structured financial mechanism designed for execution. Credit lines are in the process of availing specific projects such as Gaimukh-Fauntan Tunnel, Fountain Hotel Junction, Bhayand Jetty, Kalyan Ring Road and proposed Mumbai 3.0.
Experts said this domestic credit facility and a combination of this domestic credit facility of Rs 3.5 lakh crore and commitments of foreign funds represents the biggest money attempt by any parasatal body globally. According to him, this is the first time that such financing models have been adopted for a large public sector undertaking in India.
Projects supported under these lines of credit aims to expand transit systems, improve housing access and upgrade the necessary infrastructure in the region. These investments also expect Maharashtra to become an economy of $ 1 trillion and to contribute to India's national economic goals.
