Mumbai, April 10 -- REC, a Maharatna CPSE under the Ministry of Power, has signed an MoU with the Mumbai Metropolitan Region Development Authority (MMRDA) to invest Rs 1 lakh crore for infrastructure development in the Mumbai Metropolitan Region (MMR). The agreement was formalised during the India Global Forum's Mumbai NXT 25 event at the Jio Convention Centre.
The MoU was signed by Shri Harsh Baweja, Director (Finance), REC Limited and Dr. Ankush R Navale, Financial Advisor, MMRDA, in the presence of Maharashtra Chief Minister Shri Devendra Fadnavis, Deputy CM Shri Eknath Shinde, and senior officials from both REC and MMRDA.
The funds will be disbursed over five years to support urban mobility, housing, and essential infrastructure across MMR.
Shri Harsh Baweja said, "Our commitment of Rs 1 lakh crore reflects our firm commitment to support large-scale infrastructure projects that will significantly improve the quality of life of the people of the Mumbai Metropolitan Region."
Shri Rahul Dwivedi, IAS, Executive Director (I&L), REC Limited added, "We are excited to partner with MMRDA in this transformational initiative."
Published by HT Digital Content Services with permission from Construction World.