Mumbai: The National Asset Reconstruction Company Ltd (NARCL) has taken over the Rs2,658 crore debt of the Anil Ambani-led Mumbai Metro One Pvt Ltd (MMOPL).
According to sources, NARCL has acquired this debt from five domestic banks including, State Bank of India, IDBI Bank, Canara Bank, Indian Bank, and Bank of Maharashtra.
MMOPL, a 74:26 joint venture between Reliance Infrastructure and the Mumbai Metropolitan Region Development Authority (MMRDA), operates the city’s first metro line, which is also one of the first privately managed metro services in India. Despite its short 11km length, the line, which connects the densely populated areas of Versova, Andheri, and Ghatkopar, serves over 400,000 passengers daily.
