Frankfurt-based German state-owned development bank, KfW, is exploring funding opportunities for the infrastructure projects being undertaken in the megapolis by MMRDA.
A delegation of KfW officials, who are on a 10-day visit in India, have met the Mumbai Metropolitan Commissioner to discuss about the various infrastructure projects being undertaken by the Authority.
"They conducted 'Appraisal Mission' assessing various Metro projects in the city. The bankers were briefed on the Metro Line 4 and the multi-modal integration projects," MMRDA (Mumbai Metropolitan Region Development Authority) said in a statement issued here on Saturday.
The delegates also visits the sites that are presently under development and reacted positively to the future development plans of MMRDA.
"MMRDA is on a mission to create a Mumbai of the future. We are delighted to announce that Germany's third largest bank has expressed interest to fund our projects. This association will be a big boon to MMRDA's flagship project
the Mumbai Metro," said RA Rajeev, Metropolitan Commissioner, MMRDA.
Also Read
Rajeev said he apprised the bankers on the details of the project and have emphasised on our need to protect the environment while being socially responsible.
"The MMRDA Metro project will be one of the best in the world and we look forward to working with KfW," he added.
Recognising the transportation challenges in Mumbai metropolitan region, the government has developed a plan for 12 metro lines with a total length of 276 km.
Line 1, completed in 2014 on a public-private partnership model, carries about four lakh passengers a day and has reduced travel time along its east-west route from 71 minutes to 21 minutes.
Disclaimer: No Business Standard Journalist was involved in creation of this content
