MMRDA Secures ₹31,673.79 Crore Loan from PFC to Fast-Track 9 Mumbai Infrastructure Projects

Current Context: The Mumbai Metropolitan Region Development Authority (MMRDA) has secured a significant loan of Rs 31,673.79 crore from the Power Finance Corporation (PFC) to fast-track nine crucial infrastructure projects in Mumbai.

• This loan will cover 80% of the total project costs, with the remaining 20% funded through government grants and MMRDA’s contributions.
• The projects include the Thane-Borivali Twin Tunnel Project, the Thane Coastal Road (Phase I), and the extension of the Eastern Freeway from Ghatkopar to Thane.
• These initiatives aim to enhance connectivity, boost economic growth, and improve the overall quality of life in the Mumbai Metropolitan Region.

Question:

1 Which organization has secured a loan of Rs 31,673.79 crore from the Power Finance Corporation (PFC)?

• A) Mumbai Metropolitan Region Development Authority (MMRDA)
• B) Brihanmumbai Municipal Corporation (BMC)
• C) Maharashtra State Road Development Corporation (MSRDC)
• D) National Highways Authority of India (NHAI)

Answer: A) The Mumbai Metropolitan Region Development Authority (MMRDA) has secured a significant loan of Rs 31,673.79 crore from the Power Finance Corporation (PFC) to fast-track nine crucial infrastructure projects in Mumbai.