Mumbai: In a significant move towards enhancing infrastructure in the Mumbai Metropolitan Region (MMR), REC Limited, a Maharatna CPSU under the Ministry of Power, has signed a Memorandum of Understanding (MoU) with the Mumbai Metropolitan Region Development Authority (MMRDA). The agreement, valued at ₹1 lakh crore, will provide financial support for a wide range of infrastructure projects across the region, focusing on urban mobility, housing, and essential infrastructure.
The MoU was officially signed at the India Global Forum (IGF) Mumbai NXT 25 event held at the Jio Convention Centre in Mumbai. The signing ceremony saw the participation of Maharashtra’s Hon’ble Chief Minister Shri Devendra Fadnavis, Hon’ble Deputy Chief Minister Shri Eknath Shinde, and senior officials from both REC Limited and MMRDA, including Shri Harsh Baweja, Director (Finance) at REC Limited, and Dr. Ankush R. Nawale, Financial Advisor at MMRDA.
The partnership will see the ₹1 lakh crore investment being disbursed over the next five years, ensuring steady progress in transforming the region’s infrastructure and improving the quality of life for its residents.
Speaking on the occasion, Harsh Baweja emphasized, “Our ₹1 lakh crore commitment reflects our strong dedication to supporting large-scale infrastructure projects that will significantly improve the living standards for the people of Mumbai Metropolitan Region.”
Rahul Dwivedi, IAS, Executive Director at REC Limited, added, “We are excited to partner with MMRDA in this transformative initiative, which will bring much-needed growth and modernization to Mumbai.”
This collaboration highlights REC Limited’s pivotal role in supporting large-scale infrastructure projects across India, furthering its mission to contribute to the nation’s overall growth and progress.
