The MOU mentions financing models such as land value capture (LVC) and transit-oriented development (TOD) to promote sustainable urban growth, drawing on the expertise of UK institutions. Archive | Photo credit: Emmanual Yogini
The United Kingdom (UK) government and the Mumbai Metropolitan Region Development Authority (MMRDA) join hands to augment the city’s metropolitan network as the UK Department of Transport (DFT) and Crossrail International ( United Kingdom) have signed a Memorandum of Understanding (MOU) with the MMRDA, the authority said on Monday (January 27, 2025).
“Securing $40 billion in Davos marks a historic milestone for MMRDA. These investments reaffirm our commitment to driving sustainable, inclusive and transformative growth in the Mumbai metropolitan region, setting new benchmarks in urban development and global collaboration. These mous reflect global investors’ confidence in MMR’s potential to emerge as a global economic hub, creating opportunities for millions and contributing to India’s growth story,” said Metropolitan Commissioner Dr Sanjay Mukherjee.
MMRDA is currently building a 337 km metropolitan network, with approximately 59 km of routes already operational, including underground metro sections. The MOU aims to rapidly track work on the Metro network, creating a fully integrated transportation system to support the city’s rapid growth.
The MOU focuses on developing an intermodal transportation system, including an operational and maintenance strategy for Mumbai’s future 14-line metro network. It will also focus on improving first and last mile options and digital transformation.
It mentions financing models such as land value capture (LVC) and transit-oriented development (TOD) to promote sustainable urban growth, drawing on the experience of UK institutions such as Transport for London (TFL), Red Rail and the UK to achieve UK export funding to achieve Project Execution.
Published – January 27, 2025 08:42 PM IST
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