CORPORATE
REC signs MoU with MMRDA to fund Rs 1-l cr projects in MMR
- IBJ Bureau
- Apr 10, 2025
REC, a Maharatna CPSU under the Ministry of Power and prominent NBFC, has entered into an MoU with the Mumbai Metropolitan Region Development Authority (MMRDA) to provide financial support of Rs 1 lakh crore for infrastructure development in the Mumbai Metropolitan Region (MMR).
The agreement was formally signed by REC Director (Finance) Harsh Baweja and MMRDA Financial Advisor Ankush R Nawale at the India Global Forum (IGF) Mumbai NXT 25 event at the Jio Convention Centre, Mumbai, in the presence of Maharashtra Chief Minister Devendra Fadnavis; Deputy Chief Minister Eknath Shinde; MMRDA Metropolitan Commissioner Sanjay Mukherjee; MMRDA Additional Metropolitan Commissioner Vikram Kumar; REC Executive Director Rahul Dwivedi; and senior officials of REC and MMRDA.
The MoU outlines REC’s commitment to financing a wide array of infrastructure projects in the MMR, focusing on urban mobility, housing and essential infrastructure. The funding will be disbursed over the next five years, ensuring steady progress in modernising and enhancing the region’s infrastructure.
This collaboration underscores REC’s vital role in financing and driving infrastructure development across India, furthering its mission to contribute to the nation’s growth and progress, a media release from REC has said.
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