The Mumbai Metropolitan Region Development Authority has secured a loan of Rs 316.74 billion from Power Finance Corporation Limited (PFC). The proceeds of the loan will be allocated to nine critical projects, marking a financial closure. While Rs 150.71 billion will be used for the Thane-Borivali Twin Tunnel Project, the remaining
Rs 166.03 billion will be allocated for other key projects – Thane Coastal Road (Phase I), Eastern Freeway extension, and the elevated road from National Highway 4 (NH-4) to Katai Naka. Other development plans include creek bridges, access and elevated roads.
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