PFC signs MOU with MMRDA for financing Infra Projects worth Rs. One lakh Cr.

Mumbai: The Mahartna PSU  Power Finance Corporation, a leasding  Non-Banking Financial Company, has signed a memorandum  with Mumbai Metropolitan Region Development Authority (MMRDA) on April  08,  during the “India Global Forum (IGF) Mumbai’s NXT25: Leading the Leap Summit” at Jio World Convention Centre, Mumbai. The two-day summit by IGF will bring together CEOs, global investors, policymakers, and celebrities to explore the most prominent trends shaping India’s future on the world stage, according a company press release.

The MoU seeks to establish a robust collaborative working partnership between MMRDA & PFC which envisages financial assistance up to  ₹ 1,00,000 crore by PFC for developing bankable Infrastructure Projects in the Mumbai Metropolitan Region (MMR). In the past, PFC had earlier extended financial assistance for various key  infrastructure projects, and the current MoU intends to strengthen the relationship between two giants further to help achieve improved connectivity within MMR.

The MoU was signed in the presence of  Maharashtra Chief Minister Devendra Fadnavis, Dy. Chief Minister  Eknath Shinde,  Rajiv Ranjan Jha, Director (Projects), PFC; Dr. Sanjay Mukherjee, IAS, Metropolitan Commissioner, MMRDA;  Vikram Kumar, IAS, Additional Metropolitan Commissioner; and senior officials of PFC and MMRDA.

The MoU underlines PFC’s commitment towards playing a pivotal role in powering the nation’s aspirational journey towards a developed nation, adds press note  further.