Maharashtra: MMRDA allowed to take loans as much as Rs 60k cr for infra initiatives

The Maharashtra authorities on Saturday gave permission to the Mumbai Metropolitan Area Improvement Authority to lift loans as much as Rs 60,000 crore for infrastructure initiatives, an official mentioned.

The Maharashtra authorities will stand guarantor for the loans and stamp obligation on the federal government assure has been waived off for an quantity of Rs 12,000 crore to be raised within the first part, an announcement from the Chief Minister’s Workplace (CMO) mentioned.

Infrastructure initiatives, together with metro rail works, Thane-Borivali underground route, Thane coastal street, Sewri-Worli Connector, price Rs 1,74,940 crore are underway within the Mumbai Metropolitan Area, it added.

“The MMRDA has been allowed to lift loans as much as Rs 60,000 crore for completion of those initiatives,” the CMO assertion mentioned quoting a cupboard assembly determination.

(Solely the headline and movie of this report could have been reworked by the Enterprise Commonplace workers; the remainder of the content material is auto-generated from a syndicated feed.)

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