Mumbai Railway Vikas Corporation (MRVC)
To enable the Mumbai Suburban Railway to meet the demands of the ever-growing passenger traffic, the federal Government of India's Ministry of Railways and the state Government of Maharashtra have jointly envisioned the constitution of a separate corporate entity to operate the system.
The Mumbai Railway Vikas Corporation Ltd (MRVC), a public sector unit of the Government of India under the Ministry of Railways, was incorporated under the (Indian) Companies Act, 1956 on July 12, 1999, with an equity capital of 25 crore (US$4.6 million) to implement the rail component of an integrated rail-cum-road urban transport project, called Mumbai Urban Transport Project (MUTP). The cost of the rail component of the project is to be shared equally by Ministry of Railways and Government of Maharashtra.
Read more about this topic: Mumbai Suburban Railway
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