Maharashtra Cabinet Approves ₹98 Crore Equity Support For MRVC To Boost Mumbai Rail Expansion

Mumbai: In a major boost to Mumbai's suburban railway expansion, the Maharashtra Cabinet has approved the State Government's share of fresh equity support for Mumbai Railway Vikas Corporation (MRVC). The decision clears the way for a total equity infusion of ₹200 crore, to be shared by the Centre and the State in the existing 51:49 equity ratio. While the Government of India will contribute ₹102 crore, the Maharashtra Government will provide ₹98 crore.

Funds To Support Rs 64,644 Crore Railway Projects

The fresh equity infusion will strengthen MRVC's financial position and support the execution of railway infrastructure projects worth more than ₹64,644 crore. These include the ambitious Mumbai Urban Transport Project (MUTP)-III, MUTP-3A and MUTP-3B, which aim to increase suburban rail capacity, improve connectivity and reduce congestion on Mumbai's overburdened railway network. The additional capital will also improve MRVC's ability to raise resources for future infrastructure projects across the Mumbai Metropolitan Region, helping deliver better services and enhanced commuter convenience.

Welcoming the Cabinet's decision, MRVC Chairman and Managing Director Vilas Sopan Wadekar said the approval marks a significant milestone for the corporation. "The Maharashtra Cabinet's approval for fresh equity support is a significant milestone that strengthens MRVC's financial foundation. This enhanced capital base will enable us to effectively deliver major suburban rail infrastructure projects, accelerate capacity augmentation, and continue transforming Mumbai's railway network to provide safer, faster and more efficient mobility for millions of commuters," he said.

MRVC, a joint venture between the Ministry of Railways and the Government of Maharashtra, is responsible for planning and implementing key suburban railway infrastructure projects in the Mumbai Metropolitan Region. The latest equity support is expected to improve the corporation's financial strength at a time when several large-scale railway expansion projects are under implementation. Officials said the move will help maintain project momentum while laying the groundwork for future investments aimed at meeting the growing transport needs of Mumbai's millions of daily suburban rail commuters.

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