BEST gets Rs88 crore for 468 new buses in city

Mumbai: In a major boost to the city’s public road transport system, the Mumbai Metropolitan Region Development Authority (MMRDA) on Thursday cleared a loan of Rs88.39 crore to the Brihanmumbai Electric Supply and Transport (BEST) undertaking for purchasing 468 CNG buses. The loan will be at an annual interest rate of 8% and BEST will have to pay it back within 6 years.

The decision was taken at the executive committee meeting of the authority on Thursday.

At present, the BEST Undertaking requires more than 1,500 new buses to cater to the growing population in the city. BEST, under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), will be receiving financial aid for the purchase of 1,000 buses.

BEST had requested the MMRDA to provide financial assistance for the purchase of new CNG-equipped buses, which the Authority responded to.