MMRDA Secures MoUs Valued at Rs 4 Lakh Crore, Anticipates Boost in Infrastructure Development
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Synopsis
On April 8, the Mumbai Metropolitan Region Development Authority signed MoUs valued at Rs 4.07 lakh crore, collaborating with major public sector enterprises to enhance infrastructure in the Mumbai region. The efforts aim to boost Maharashtra's economy and attract investments across various sectors.
Key Takeaways
- MMRDA signed MoUs worth Rs 4.07 lakh crore.
- Partnerships include REC Limited, Power Finance Corporation, and more.
- Focus on developing Navi Mumbai and expanding MMR economy.
- Investment of $135 billion targeted to create 28 to 30 lakh jobs.
- Government promoting sectors like electric mobility and logistics.
Mumbai, April 8 (NationPress) The Mumbai Metropolitan Region Development Authority (MMRDA) has officially signed MoUs totaling Rs 4.07 lakh crore with REC Limited, Power Finance Corporation, Housing and Urban Development Corporation (HUDCO), Indian Railway Finance Corporation (IRFC), and the National Bank for Financing Infrastructure and Development (NaBFID).
These partnerships with Mini-Ratna, Navratna, and Maharatna public sector enterprises are projected to enhance infrastructure development within the Mumbai Metropolitan Region (MMR).
The MoUs were executed during the India Global Forum 2025, attended by Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde, who also chairs the MMRDA and serves as Urban Development Minister.
"Maharashtra is committed to providing seamless facilities for investors and is fostering an ecosystem to draw investments across all regions of the state. Consequently, we will witness balanced development across Maharashtra over the next five years," remarked the chief minister.
"The Mumbai Metropolitan Region (MMR) is poised to play a pivotal role in transforming Maharashtra into a $3 trillion economy. The MMR alone has the potential to cultivate a $1.5 trillion economy, which is why it is under focused attention. Mumbai is recognized as the FinTech capital, and a 'Third Mumbai' is being established in Navi Mumbai, featuring an EduCity and an Innovation City. Notably, the EduCity will accommodate one of the world's largest universities, with five universities in the final planning stages," stated the chief minister.
He also noted that the Navi Mumbai International Airport is nearing its completion, and the Atal Setu (Trans Harbour Link) has significantly enhanced connectivity to the airport and surrounding areas.
"The country's largest port is being constructed at Vadhavan, which will be linked via the Samruddhi Expressway, promoting the development of the 'Fourth Mumbai' in that area," the chief minister added.
"While the MMR is being developed, equal focus is being placed on rural and underdeveloped regions: Pune is evolving into a major hub for the automobile industry, Chhatrapati Sambhajinagar (Aurangabad) is becoming a center for the electric vehicle sector, and Gadchiroli is set to emerge as India's new steel hub. The Vidarbha region is rapidly expanding in solar energy production. The Samruddhi Expressway will benefit farmers and entrepreneurs across 15 districts. A proposed Shaktipeeth corridor aims to uplift Marathwada. Development of airports in Shirdi, Pune, and Nagpur is also underway," the chief minister stated.
He further revealed that four river-linking projects worth approximately Rs 3 lakh crore are being implemented to render the state drought-free, alongside a canal-based irrigation project in Vidarbha.
The chief minister mentioned that 85 percent of MoUs signed by the state government have already been executed, with special focus on the remaining 15 percent to ensure timely implementation. The state government is actively facilitating land allocation, permits, and all necessary infrastructure for industries.
Deputy Chief Minister Shinde highlighted that over the last three years, MoUs worth Rs 20 lakh crore were signed at the World Economic Forum in Davos, marking a significant record. This year alone, MMRDA secured MoUs worth Rs 3.5 lakh crore in Davos and has already commenced their execution. These initiatives are set to propel the next phase of development in Mumbai and its surrounding areas.
"Our goal is to elevate the GDP of the MMR region to $300 billion by 2030. To achieve this, an investment of $135 billion will be essential, anticipated to generate 28 to 30 lakh (2.8-3 million) new jobs. Over the past three years, Maharashtra has cultivated a favorable environment for investment. With world-class infrastructure, a skilled workforce, and robust governance, Maharashtra has established itself as the preferred destination for both domestic and international investors," stated the deputy chief minister.
He added that the government is actively promoting investments in sectors such as electric mobility, logistics, semiconductor manufacturing, AI, health-tech, and ed-tech.
