MMRDA Woos Investors With Rs 1 Lakh-Crore Business Opportunities In Infrastructure
An excavator sits in the mud at an excavation site of the Mumbai Metro Rail Corporation. (Photographer: Dhiraj Singh/Bloomberg)

MMRDA Woos Investors With Rs 1 Lakh-Crore Business Opportunities In Infrastructure

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Mumbai Metropolitan Region Development Authority, which is developing infrastructure projects worth thousand of crores of rupees across the metropolitan region has invited both domestic and foreign investors to invest.

The town planning authority’s Commissioner RA Rajeev, on Wednesday, met representatives of 16 global and domestic financial institutions including Goldman Sachs, Reliance, Avendus Capital and Tata AIA Life, among others.

"We are in a total development mode in Mumbai as also the metropolitan region and have undertaken various infrastructure projects including various metro corridors. There is an investment opportunity worth more than Rs 1 lakh crore," Rajeev said during the meeting organised by Philip Capital.

The authority has so far undertaken various mega projects such as Mumbai Trans Harbour Link, multi-modal corridor, transit-oriented development, multi-modal integration including the 14-line 337-kilometre long metro network, among others.

So far, MMRDA projects have been funded by federal agencies like World Bank, Asian Development Bank and Japan International Cooperation Agency as they are being implemented on engineering, procurement, and construction basis.

The other investors who were present at the meeting were Enama Holdings, Nippon Life Asset Management, Nippon Life Company, Principal Asset Management, Suyash Advisors, Invesco Mutual Fund, IDBI Federal Life Insurance, Quantum Advisors, Aviva Life Insurance Co, HDFC Asset Management, Tata Asset Management and CPP Investment Board.

Rajeev also assured the investors that the projects are being implemented without cost and time overruns and thus they should extend finances to contracting agencies working with MMRDA without any doubt.

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