Govt. speeds up Rs.37,883-cr e-way project

Nagpur Mumbai Super Communication Expressway

In order to provide hassle-free traveling facilities to the masses of the area, the state government in Maharashtra has decided to speed-up the construction work on the Nagpur-Mumbai Super Communication Expressway at an investment of Rs. 37,883cr. The eight-lane project crisscrossing through 25 townships, is also popularly called the Maharashtra Prosperity Corridor, which will be completed over a period of 36 months and for financing the mega national project, government has tied up with financial institutions for Rs. 24,363-cr equity required for the civil construction of the 706 km road stretch. To be built under the land-pooling model, the total land required for the project is 10,463 hectares, of which 9,500 hectares is private land and the rest 963 hectares is government or forest land. The project will be implemented by a special purpose vehicle (SVP), a subsidiary of the Maharashtra State Road Development Corporation (MSRDC). To meet the equity requirements and cash shortfall, the MSRDC has decided to monetize the available Bandra land area of 12 acres to generate Rs. 14,400cr, said official sources.