Mumbai Railway Vikas Corporation Ltd (MRVC Ltd)., a Public Sector Undertaking of Govt. of India under Ministry of Railways (MoR) was incorporated under Companies Act, 1956 on 12th July 1999 with an equity capital of Rs. 25 crore shared in the ratio of 51:49 between Ministry of Railways and Government of Maharashtra. MRVC is involved in executing the suburban rail improvement projects under Mumbai Urban Transport Project (MUTP) as sanctioned by Ministry of Railways for enhancing suburban rail transportation capacity thereby reducing the overcrowding and meeting future traffic requirements. The corporation is also involved in the planning and development of Mumbai Suburban Rail system. The main objectives of MUTP are_
- Bringing down the passengers per 9 coach to 3000 as against existing 5000.
- Segregate the suburban train operation from the main line passenger and freight services
- Integrate suburban rail capacity enhancement plans with urban development plan for Mumbai and propose investments.
- Implement the rail infrastructure projects in Mumbai suburban sections.
- Commercially develop Railway land and airspace in Mumbai area to raise funds for suburban railway development.
- Resettlement & Rehabilitation of Project Affected Households.