MUMBAI : REC Limited, a Maharatna Central Public Sector Undertaking under the Ministry of Power, has signed a Memorandum of Understanding with the Mumbai Metropolitan Region Development Authority (MMRDA) to provide ₹1 lakh crore in financial support for infrastructure development across the Mumbai Metropolitan Region.
The MoU was formalized at the India Global Forum’s Mumbai NXT 25 event at the Jio Convention Centre. It was signed by REC Director (Finance) Harsh Baweja and MMRDA Financial Advisor Dr. Ankush R. Nawale, in the presence of Maharashtra Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde. Also present were MMRDA Metropolitan Commissioner Dr. Sanjay Mukherjee, Additional Metropolitan Commissioner Vikram Kumar, and REC Executive Director Rahul Dwivedi, along with other senior officials.
The agreement sets the stage for REC to finance a broad range of infrastructure initiatives over the next five years, including projects related to urban mobility, housing, and critical services across the MMR.
“Our ₹1 lakh crore commitment reflects REC’s dedication to supporting large-scale infrastructure that will enhance quality of life in the Mumbai region,” Baweja said.
“This partnership with MMRDA marks a transformative step toward sustainable urban development,” added Dwivedi.
The collaboration reinforces REC Limited’s role as a key infrastructure financier, supporting India’s development goals and advancing its national growth agenda.
