MSRDC-SBI in JV for super e-way project

    Mumbai Nagpur Super Expressway
    In its quest to speed-up the Mumbai-Nagpur super e-way project, MSRDC has recently roped in SBI Caps to mop-up required funds for the mega project. MSRDC, which is the nodal agency for road building in Maharashtra, will fund the engineering-procurement-construction (EPC) contract in its entirety and has sought the state government's approval for approaching the ADB for the long-term loan. State Public Works Minister, Eknath Shinde said that the project, which would pass through 10 districts, 30 tehsils and 354 villages, would have toll contractors in rotation for two or three years after the expressway‘s launch. Vice-Chairman and Managing Director, Radheshyam Mopalwar said that out of the total project cost of Rs. 46,000cr, MSRDC has indicated civil cost of Rs. 24,000cr; contingencies, financing charges and IDC of Rs. 6,000cr; node development cost of Rs. 2,500 crore; utility shifting cost of Rs. 500cr; and land acquisition cost of Rs. 13,000cr. The tender for construction will be issued after acquisition of 60% of the land, which will require another 75 days. The project will need 20,820 hectares of land, 8,520 hectares for the expressway, 1,500 hectares for amenities and 10,800 hectares for development nodes, he claimed.
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