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NMMT TO UTILIZE MMRDA FUNDS FOR UPGRADATION OF SERVICES TO COMMUTERS

NMMT-5The NMMT seeks a Rs. 50 Crore loan from MMRDA. The funds will be utilized to convert diesel buses into CNG, buy Bus Depot and land for terminals from CIDCO. The NMMT administration had earlier sent a proposal to take a loan of Rs. 25 Crore from MMRDA. This proposal was approved by the general body. However, with diesel prices touching the sky and inflation increasing the costs of everything, the NMMT administration amended the proposal hiking the loan sum from Rs. 25 Cr to Rs. 50 Cr. The NMMT aims to utilize the funds for converting diesel buses into CNG, buying bus depots and land for terminals from CIDCO. The amended proposal will again be sent for the standing committee and general body sanctions. According to it, MMRDA will give NMMT the loan at 8% interest that the later will have to return in 11 years. With cameraperson Vinayak Dalvi, Vrushali Chitre for NMTV News.

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