MMRDA needs 50% more funds for infrastructure development

Mumbai Metropolitan Region Development Authority (MMRDA) has increased the estimated investment target needed for infrastructure development by over 50 per cent.

MMRDA now estimates the total investment required over the next four years at Rs1,13,000-crore as against the earlier estimate of Rs75,000-crore.

The investment is required to speed up the ongoing projects and to manage the projects that are in the pipeline. These include the construction of metro and monorail networks, inter-state bus terminus, iconic tower, innovation parks and a 140 km long multi-model corridor between Virar and Alibaug