The Housing and Urban Development Corporation (HUDCO) has recently approved a loan of Rs.800 crore for Maharashtra's Nagpur-Mumbai super communication expressway. The loan has been approved for Maharashtra State Road Development Corporation (MSRDC), the nodal agency for executing the ambitious project. The project, also called the Maharashtra Samruddhi Corridor, is the first road project in the state that had proposed to pool land and get into a partnership with farmers, rather than acquire their land. The 706 km-long expressway requires 10,000 hectares for which MSRDC had received farmers' consent for only about 30% of the land for pooling, Joint MD, MSRDC, Kiran Kurundkar said, adding that the corporation expects to have to pay out about Rs.5,000 crore to purchase land for the entire e-way stretch.
📅Published on:
22 April 2017
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