Source: https://www.news18.com/news/auto/mumbai-railway-vikas-corporation-gets-rs-600-crore-from-railway-board-for-infra-projects-5673301.html
Publisher: News 18
The Mumbai Railway Vikas Corporation (MRVC) has received Rs 600 crore from the Railway Board for the execution of different railway-related infrastructure projects. The MRVC is a 50:50 joint venture (Special Purpose Vehicle) of the Railways Ministry and the Maharashtra Government. Mumbai Metropolitan Region Development Authority (MMRDA) had allegedly failed to pay its share to the venture since 2020.
SC Gupta, the Chairman and Managing Director of MRVC said, “We have received Rs 600 crore from the Railway Board after we made a special request for release of funds.” The funds will be utilised to acquire land for the Mumbai Urban Transport Project (MUTP) 2A, 3 and 3A, according to MRVC.
In April this year, the MVRC Chairman Ravi Agarwal had met with the Maharashtra Chief Secretary Manukumar Srivastava to discuss the pending dues from the state government’s share for implementing railway infrastructure projects in Mumbai Metropolitan Region (MMR).
Later, in July, the MMRDA had released Rs 300 crore in total, in two instalments, for Mumbai Urban Transport Projects (MUTP) 2 and 3. MMRDA had further assured that the BKC (Bandra-Kurla Complex) land required for the Mumbai-Ahmedabad bullet train project’s terminus will be transferred by December. The National High Speed Rail Corporation Limited (NHSRCL) issued tenders in July for the design and construction of an underground terminus at BKC.
