State-owned Power Finance Corporation (PFC) has inked a Memorandum of Understanding (MoU) with the Mumbai Metropolitan Region Development Authority (MMRDA) to provide financial assistance worth Rs 1 lakh crore for infrastructure development in the Mumbai Metropolitan Region (MMR).

The agreement was signed in Mumbai in the presence of Maharashtra Chief Minister Devendra Fadnavis, PFC Director (Projects) Rajiv Ranjan Jha, and MMRDA Metropolitan Commissioner Sanjay Mukherjee.

According to PFC, the MoU aims to establish a robust collaborative partnership with MMRDA, facilitating the development of bankable infrastructure projects through financial support of up to Rs 1,00,000 crore.

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Power Finance Corporation (PFC), a leading non-banking financial company (NBFC) under the Ministry of Power, is a state-owned Indian public sector enterprise and a “Maharatna” CPSE. Established in 1986, it provides financial assistance to the power sector, with a particular focus on generation, transmission, distribution, and renewable energy projects.

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