REC Pledges Rs 1000 billion for MMR Infrastructure Over 5 Years

15 Apr 2025 CW Team

REC Limited, a Maharatna Central Public Sector Undertaking (CPSU) under the Ministry of Power, has signed a Memorandum of Understanding (MoU) with the Mumbai Metropolitan Region Development Authority (MMRDA) to provide Rs 1000 billion in financial support for infrastructure projects across the Mumbai Metropolitan Region (MMR).

The agreement was signed during the India Global Forum (IGF) Mumbai NXT 25 event at the Jio Convention Centre. It was formalised by REC Director (Finance) Harsh Baweja and MMRDA Financial Advisor Dr Ankush R Nawale in the presence of Maharashtra Deputy Chief Minister Devendra Fadnavis, Chief Minister Eknath Shinde, and senior officials from both REC and MMRDA.

Under the MoU, REC will fund a wide range of infrastructure initiatives, including urban mobility, housing, and critical urban infrastructure. The financial assistance will be rolled out over the next five years, aimed at accelerating the development and modernisation of the region鈥檚 growing urban landscape.

鈥淭his Rs 1000 billion commitment reflects REC鈥檚 focus on supporting large-scale projects that can improve quality of life and urban infrastructure in MMR,鈥� said Harsh Baweja.

Rahul Dwivedi, Executive Director (I&L), REC Limited, added, 鈥淭his partnership highlights REC鈥檚 expanding role in financing key infrastructure projects and supporting India鈥檚 long-term growth goals.鈥�

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