MSRDC seals funding deal for ₹55,000-cr Samruddhi Corridor
The Maharashtra government has announced that MSRDC has achieved a financial closure of ₹28,000 crore for the 701-km Mumbai-Nagpur Samruddhi Corridor. The project attracted investments of ₹55,447 crore. The Maharashtra State Road Development Corporation has secured loans of ₹28,000 crore from various financial institutions. The corridor -- an expressway -- will pass through ten districts, reducing the travel time between Nagpur, the state's second capital, and Mumbai to seven hours. Key lenders of the project are SBI (₹8,000 crore), Canara Bank (₹4,000 crore), LIC (₹4,000 crore), HUDCO (₹2,550 crore), Bank of India (₹1,700 crore), Union Bank of India (₹1,700 crore), Bank of Baroda (₹1,500 crore), Andhra Bank (₹1,500 crore), IIFCL (₹1,300 crore), Indian Bank (₹750 crore), and Bank of Maharashtra, Syndicate Bank and Oriental Bank of Commerce (₹1,000 crore).
📅Published on:
20 September 2019
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