MRVC Seeks ₹200 Crore Equity Infusion From Centre And Maharashtra For ₹64,644 Crore Rail Projects
· Free Press Journal
Mumbai Railway Vikas Corporation (MRVC), the nodal agency responsible for planning and implementing suburban railway projects in the Mumbai Metropolitan Region, has approached the Maharashtra Government for a capital infusion to support railway infrastructure projects worth nearly ₹64,644 crore.
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Centre and state to contribute in 51:49 ratio as per shareholding
In a proposal submitted to the state government, MRVC has sought approval to increase its authorised share capital from ₹25 crore to ₹500 crore and raise its paid-up equity capital from ₹25 crore to ₹225 crore. The corporation is seeking a fresh equity infusion of ₹200 crore, of which the Government of India would contribute ₹102 crore and the Maharashtra Government ₹98 crore, in line with their existing shareholding pattern of 51:49.
The Ministry of Railways has already granted in-principle approval for its contribution, subject to the Maharashtra Government providing its share. The proposal is currently awaiting the state's nod.
MUTP-III, 3A, 3B and Pune-Lonavala line among key projects
MRVC is presently executing and planning several major railway infrastructure projects, including Mumbai Urban Transport Project (MUTP)-III, MUTP-3A, MUTP-3B and the Pune–Lonavala third and fourth railway line projects. Together, these projects are estimated to cost around ₹64,644 crore. The figure does not include future works proposed under MUTP-IV.
Thane Sessions Court Acquits Man In 2017 Prison Assault Case, Cites Lapses By Jail AuthoritiesAccording to MRVC, its existing paid-up capital of ₹25 crore is inadequate considering the scale of projects under implementation. The corporation has told the state government that a stronger capital base is necessary to improve working capital availability and ensure timely execution of ongoing and upcoming railway projects.
The proposed MUTP-IV programme is expected to focus on improving safety and capacity across Mumbai's suburban railway network. Preliminary plans include measures to reduce railway accidents, flood mitigation works, expansion of rail connectivity in growing urban areas, installation of Kavach and CBTC signalling systems, station modernisation, introduction of additional AC local train services and better integration with metro and other public transport systems.
The proposed capital increase is expected to strengthen MRVC's financial position and help accelerate infrastructure projects aimed at improving the daily commute for millions of suburban railway passengers across the Mumbai Metropolitan Region.
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