The Mumbai Metropolitan Region Development Authority (MMRDA) has secured a major loan facility from Power Finance Corporation (PFC). A loan amount of Rs 31,673.79 crore has been approved to finance nine crucial infrastructure projects that will transform the Mumbai Metropolitan Region's (MMR) transportation landscape.  

A formal loan agreement was signed between PFC and MMRDA on Wednesday, September 25, marking the financial closure of several high-priority infrastructure projects aimed at enhancing connectivity, boosting economic growth, and improving the quality of life in MMR. This financial closure is aimed at covering 80 per cent of the total project cost, with the remaining portion being supported through a combination of government grants and contributions from MMRDA. Out of the total amount, Rs 15,071 crore will be directed towards the Thane-Borivali Twin Tunnel Project.