PFC signs pact to provide Rs 1 lakh cr to MMRDA for infra projects

State-owned Power Finance Corporation (PFC) on Tuesday signed an agreement with MMRDA to provide Rs 1 lakh crore worth finance for infrastructure projects. A Memorandum of Understanding (MoU) with Mumbai Metropolitan Region Development Authority (MMRDA) was signed in the presence of Maharashtra Chief Minister Devendra Fadnavis, PFC Director (Projects) Rajiv Ranjan Jha, and Metropolitan Commissioner MMRDA Sanjay Mukherjee in Mumbai.

"The MoU seeks to establish a robust collaborative working partnership between MMRDA and PFC which envisages financial assistance up to Rs 1,00,000 crore by PFC for developing bankable infrastructure projects in the Mumbai Metropolitan Region (MMR)," PFC said.

PFC is a non-banking financial company (NBFC) under the Ministry of Power.