MMRDA secures Rs 316.74 billion loan from PFC

The Mumbai Metropolitan Region Development Authority (MMRDA) has secured a loan of Rs 316.74 billion from the Power Finance Corporation (PFC). The proceeds of the loan will be deployed in nine critical projects marking a financial closure. Rs 150.71 billion will be deployed for the Thane-Borivali Twin Tunnel Project. The balance of Rs 166.03 billion will be used in other key projects: Thane Coastal Road (Phase 1), Eastern Freeway extension, and elevated road from National NH 4 to Katai Naka. Other development plans include creek bridges, access and elevated roads.