The full debt, together with curiosity, quantities to ₹3,000 crore.
Mumbai Metro is a three way partnership of Reliance Infrastructure and MMRDA, with Reliance Infra holding 74 per cent stake, whereas the steadiness is owned by the MMRDA.
In March, MMOPL signed a debt settlement settlement with the lenders, committing to pay ₹1,700 crore as a one-time settlement of its whole debt. As a part of this, MMRDA and MMOPL had made an upfront cost of ₹171 crore to the lenders.
In line with sources, the MMRDA Commissioner could quickly convene a gathering of all six lenders of MMOPL, together with State Financial institution of India, IDBI Financial institution, Canara Financial institution, Indian Financial institution, Financial institution of Maharashtra and IIFCL (UK), to deliberate on the one-time settlement of the corporate’s debt.
March decision
In March, the Maharashtra State cupboard had handed a decision, whereby MMRDA was to accumulate Reliance Infrastructure’s 74 per cent stake in MMOPL for ₹4,000 crore, however MMRDA expressed its lack of ability to boost funds for this acquisition.
Subsequently, within the June 26 assembly, the State cupboard reversed its earlier resolution and cancelled the sooner decision of strategic acquisition of Reliance Infra’s stake, and as an alternative directed the MMRDA to pursue one-time settlement of MMOPL’s debt with its six lenders.
Sources stated that between April 2023 and June 2024, MMOPL has often paid curiosity to the lenders, amounting to over ₹225 crore.
Mumbai Metro, inaugurated in June 2014, spans 11.4 km between Versova, Andheri and Ghatkopar. It’s the metropolis’s oldest and busiest metro line with each day ridership exceeding 4.5 lakh commuters.
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