Mumbai, May 26: The Mumbai Metropolitan Region Development Authority (MMRDA) has invited expressions of interest (EOI) from banks and financial institutions to raise loans of up to Rs 9,950 crore for the implementation of Metro Line 5A and Metro Line 12A projects in the Mumbai Metropolitan Region (MMR).
According to the EOI document, the proposed borrowing will be in the form of a Rupee Term Loan (RTL), which may be financed either by a single lender or through a consortium of lenders.
The proposed facility will have a door-to-door tenor of 25 years, including a five-year moratorium on principal and interest from the date of first disbursement, followed by a repayment period of 20 years. The loan would be disbursed in multiple tranches, with a minimum drawdown amount fixed at Rs 50 crore per tranche.
The funding will be utilised for Metro Line 5A connecting Durgadi-Kalyan and Bhoirwadi to Ulhasnagar, and Metro Line 12A connecting Manpada, Kalyan Phata and Khutirgaon in Taloja.
Metro Line 5A project details
MMRDA, constituted under the Mumbai Metropolitan Region Development Authority Act, 1974, is the implementing authority for the projects. The authority is chaired by Deputy Chief Minister and Urban Development Minister Eknath Shinde, while Metropolitan Commissioner Dr Sanjay Mukherjee heads its administrative functioning.
Metro Line 5A is proposed as an extension of Metro Line 5 (Thane-Bhiwandi-Kalyan), stretching from Durgadi to Kalyan with an additional spur to Ulhasnagar. The corridor will cover 11.829 km and include seven elevated stations — Durgadi, Khadakpada, Bhoirwadi, Shivaji Path, Shanti Nagar, Shivaji Chowk and Ulhasnagar.
The project has an estimated cost of Rs 4,063.08 crore, including land acquisition, rehabilitation and resettlement, taxes, and interest during construction. MMRDA plans to raise Rs 3,250 crore through loans for the project.
The corridor will provide interchange connectivity with Metro Line 5, Metro Line 12 and the Central Railway suburban network at Kalyan Junction.
According to the project document, the corridor is expected to reduce congestion on roads and suburban railway services, improve east-west connectivity, and provide air-conditioned metro travel for commuters in Kalyan, Dombivli and Ulhasnagar.
Metro Line 12A to improve Navi Mumbai connectivity
Metro Line 12A, meanwhile, is a revised alignment of the original Metro Line 12 project aimed at improving connectivity between Manpada and Taloja.
The fully elevated 18.4-km corridor, including a spur line, will have 12 stations and is estimated to cost Rs 8,414.53 crore. The loan requirement for this project has been estimated at Rs 6,700 crore.
The project received administrative approval during MMRDA’s 160th Authority Meeting held on February 16, 2026.
The corridor is expected to improve connectivity between Navi Mumbai and Kalyan-Dombivli-Manpada, reducing travel time from over an hour by road to nearly 45 minutes by metro.
The Metro Line 12A project will also provide interchange connectivity at Katai Naka, Kalyan Phata and Amandoot station of Navi Mumbai Metro Line 1.
According to the document, the project is expected to support transit-oriented development, reduce traffic congestion, lower vehicular emissions, and stimulate commercial and real estate growth around metro stations.
MMRDA’s infrastructure and financial profile
MMRDA stated that the Mumbai Metropolitan Region spans around 6,328 sq km and includes nine municipal corporations, several municipal councils, and more than 1,000 villages across Thane, Raigad and Palghar districts.
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The authority has previously executed several major infrastructure projects, including the Mumbai Trans Harbour Link (Atal Setu), Mumbai Metro Rail projects, the Eastern Freeway, the Santacruz-Chembur Link Road, and the Orange Gate to Marine Drive Tunnel project.
MMRDA’s borrowing and rating facilities are currently rated “ACUITE AA Stable” by Acuite Rating & Research Limited, indicating a high degree of safety in servicing financial obligations.
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