The Mumbai Metropolitan Region Development Authority (MMRDA) has signed a historic USD 12 billion MoU with Brookfield to drive transformative infrastructure projects under Mumbai 3.0. The investment will enhance metro networks, urban development, logistics, and digital infrastructure, reinforcing Maharashtra’s vision of a USD 1 trillion economy and boosting employment opportunities.
MMRDA and Brookfield Join Forces for Mumbai’s Infrastructure Growth:
In a significant move to accelerate Mumbai’s urban transformation, the Mumbai Metropolitan Region Development Authority (MMRDA) has signed a Memorandum of Understanding (MoU) with Brookfield, a leading global investment firm, securing a record USD 12 billion (₹1,03,800 crore) investment.
Key Focus Areas of the Investment:
- Urban Transformation & Infrastructure Expansion: The investment will drive the development of metro projects, roads, bridges, Transit-Oriented Development (TOD), and sustainable blue-green infrastructure.
- Mumbai 3.0 Development: A significant portion will be allocated to projects in KSC New Town (323.24 sq. km.) and Special Planning Areas (SPAs) across northern (1,006.76 sq. km.) and southern (673.33 sq. km.) regions of MMR.
- Mixed-Use and Commercial Development: The initiative will facilitate the establishment of residential and commercial spaces, logistics parks, data centers, and Global Capability Centres (GCCs).
- Boosting Economic Growth: MMRDA aims to contribute to Maharashtra’s USD 1 trillion economy vision and India’s USD 5 trillion economy target by generating a USD 300 billion regional economy and creating 3 million new jobs by 2030.
Transforming Mumbai into a Global Economic Hub:
This historic MoU positions the Mumbai Metropolitan Region as a major global economic center over the next 5 to 7 years. The investment aligns with MMRDA’s long-term vision of urban expansion, sustainable growth, and digital infrastructure enhancement.
Conclusion:
This landmark USD 12 billion investment is a game-changer for Mumbai’s infrastructure and economic landscape. With a strong focus on metro expansion, urban development, and sustainability, the MMRDA-Brookfield partnership is set to accelerate Maharashtra’s economic ambitions, create millions of jobs, and transform the Mumbai Metropolitan Region into a global economic powerhouse.
Source: MMRDA – Press Release | Image Credit: MMRDA
Timely insights, straight to your WhatsApp—stay updated with ease!
