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Mumbai Railway Vikas Corporation received Rs 600 crore from Railway Board for infrastructure projects

by Rishika Choudhury

Date & Time: Aug 02, 2022 10:00 PM

Read Time: 1 minute

The Railway Board has awarded Rs 600 crore to the Mumbai Railway Vikas Corporation (MRVC) for the execution of various railway-related infrastructure projects. The MRVC is a 50:50 joint venture between the Railways Ministry and the Maharashtra Government. Since 2020, the Mumbai Metropolitan Region Development Authority (MMRDA) has allegedly failed to pay its share of the venture.

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 2022, MVRC Chairman Ravi Agarwal met with Maharashtra Chief Secretary Manukumar Srivastava to discuss outstanding payments from the state government's share of railway infrastructure projects in the Mumbai Metropolitan Region (MMR).

MMRDA released Rs 300 crore in two instalments

In July, the MMRDA released Rs 300 crore in two instalments for Mumbai Urban Transport Projects (MUTP) 2 and 3. The MMRDA also stated that the BKC (Bandra-Kurla Complex) land needed for the Mumbai-Ahmedabad bullet train project's terminus would be transferred by December. In July, the National High Speed Rail Corporation Limited (NHSRCL) called for bids to design and build an underground terminus at BKC.

Also Read: TERI and REMC to collaborate to create Indian Railways' green projects

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