Germany to lend Rs 4,189 crore to MMRDA for Mumbai Metro projects

Mumbai, 7th April 2023: The Mumbai Metropolitan Region Development Authority (MMRDA) is set to receive a loan of around Rs 4,189 crore from Germany’s KfW Bank for the ‘Wadala – Thane – Kasarwadvali Metro 4’ and ‘Kasarwadvali – Gaimukh Metro 4A’ lines. The Metropolitan Commissioner recently had a positive discussion with KfW Bank officials and the loan is likely to be available soon, which will be used for various works such as signals and electrical systems on the metro lines.

MMRDA is currently implementing various projects in Mumbai and the metropolitan region, including the metro, sea route, sea bridge, elevated road, subway, and flyover. The cost of these projects runs into crores of rupees and MMRDA has been raising funds in the form of loans for them. Currently, many projects are being implemented by taking loans from JICA.

KfW Bank had shown interest in financing and lending for multi-purpose projects including Metro 4 and Metro 4A in 2019, and an agreement was reached between the state government and the bank on November 2, 2020. The loan of about Rs 4,189 crore has been fixed for the two metro projects, but until now it has not been available.

MMRDA is moving at a fast pace with the construction of the ‘Metro 4’ and ‘Metro 4A’ lines and is planning to put them into service within the stipulated time. After the completion of construction, the work of signalling, electrical, and other systems must be started.

The Metropolitan Commissioner discussed with the KfW Bank officials during his visit to Germany with the aim of securing the loan in time for this work.

The loan from KfW Bank will aid in the progress of the much-needed metro projects in Mumbai and help MMRDA complete them within the set timeline.