MMRDA Secures ₹7,326 Crore Loan for Orange Gate-Marine Drive Tunnel Project
MMRDA Secures ₹7,326 Crore Loan for Orange Gate-Marine Drive Tunnel Project
Mumbai, February 20, 2025 – In a significant boost to Mumbai’s transport infrastructure, the Mumbai Metropolitan Region Development Authority (MMRDA) has secured a ₹7,326 crore loan from Union Bank of India for the construction of the Underground Orange Gate to Marine Drive Tunnel Road.
This funding, obtained at a competitive interest rate, reinforces MMRDA’s financial stability and commitment to delivering world-class infrastructure.
Project Highlights
- 9.2 km underground coastal route connecting Orange Gate (Eastern Freeway) to Marine Drive Coastal Road
- 6.52 km twin-tunnel system with dedicated emergency lanes for enhanced safety
- Strengthening east-west connectivity and creating a ring route for South Mumbai
The loan agreement was signed under the leadership of Chief Minister Devendra Fadnavis, with Deputy Chief Minister Eknath Shinde serving as chairperson. Metropolitan Commissioner Dr. Sanjay Mukherjee, IAS, led the signing, marking a milestone in Mumbai’s infrastructure development. Senior MMRDA officials, including Additional Commissioners Vikram Kumar and Ashwin Mudgal, Joint Commissioner Radhabinod Sharma, MMMOCL MD Rubal Agarwal, and Financial Advisor Ankush Nawale, were also present for the signing.
Accelerating Mumbai’s Urban Mobility
MMRDA continues to secure financial backing for critical infrastructure projects, ensuring steady progress in Mumbai’s urban transformation. With Union Bank of India’s support, the Orange Gate-Marine Drive Tunnel Road is set to revolutionize connectivity and ease traffic congestion, bringing a new era of mobility to Mumbaikars.
