M’rashtra turns to ADB to fund corridor project

    Nagpur Mumbai Samruddhi Corridor
    In order to fast track the mega Nagpur-Mumbai 'Samruddhi Corridor' entailing an investment of Rs. 46,000-cr, the state government has turned to Asian Development Bank (ADB) to finance the project, said Vice Chairman and Managing Director, MSRDC, Radheshyam Mopalwar, adding that out of the total project cost, Rs. 27,000-cr, which includes Rs. 24,000-cr for civil work, Rs. 2,500-cr for allied development and Rs. 500-cr for utility shifting, will be raised from market. The actual work is expected to start after the on-going process of final alignment and acquiring of land and the process will take about two months. By February 2017, it will be able to invite tenders and then the actual civil work may start for the mega project, which is expected to be commissioned by 2019.
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