MSRDC hastens Rs. 45,000-cr Nagpur-Mumbai e-way

Maharashtra State Road Development Corporation (MSRDC) is all set to award the Rs 46,000-crore Nagpur-Mumbai expressway as the acquisition of land for the proposed project is almost complete. This paves the way for the process of finalizing bidders for the marquee project, construction for which is expected to start very shortly, VC & MD, MSRDC, Radheshyam Mopalwar, said, adding that the project needs Rs 27,000 crore to kick start the construction work. MSRDC already has in-principle clearance from a clutch of domestic banks committing to about Rs 20,000 crore and the State Bank of India (SBI) along with a few other banks and/or financial institutions, which are expected to contribute about Rs 7,000 crore. The concession agreement (CA) for the project is currently being evaluated by the state government‘s finance department. Once all three approvals are in place, the CA will be placed before the state Cabinet for its final nod to finally launch the mega road project.