MSRDC Raises Funds for Samruddhi Corridor
Published: September 14, 2019
The Maharashtra State Road Development Corporation (MSRDC) has raised around Rs 28,000 crore in loan from various financial institutions.
About Samruddhi Corridor
- Samruddi Corridor is the name given to the Nagpur-Mumbai Super Communication Express Way.
- The corridor connects the state capital Mumbai with its ‘second capital’ Nagpur.
- This six-lane expressway of 800 km passes through 10 districts and provides fast track connectivity to another 14 through with six-lane connecting ways.
- The expressway is expected to cut down the east-west travel time in the state to almost half, the connectivity to port is expected to change the agri-business dynamics of the state.
- The six-lane expressway would be 120 meters wide and would allow vehicles to ply at a speed of 150 kmph.
- The corridor which passes through 392 villages of 26 taluka in 10 districts will also connect 14 districts indirectly to Mumbai through 20 agri-prosperity centres.
- About 20 Krishi Samruddhi Kendras would be developed along the corridor.
- The corridor also provides connectivity to the Western Corridor and the Golden Quadrilateral.
- The project is being implemented by the SPV: Nagpur-Mumbai Super Communication Express Way Limited.
Key Lenders for the Project
- State Bank of India (Rs 8,000 crore),
- Canara Bank (Rs 4,000 crore),
- LIC (Rs 4,000 crore),
- HUDCO (Rs 2,550 crore),
- Bank of India (Rs 1,700 crore),
- Union Bank of India (Rs 1,700 crore),
- Bank of Baroda (Rs 1,500 crore),
- Andhra Bank (Rs 1,500 crore),
- IIFCL (Rs1,300 crore),
- Indian Bank (Rs 750 crore), and
- others (Bank of Maharashtra, Syndicate Bank and Oriental Bank of Commerce) Rs 1,000 crore.
Through MSRDC the state government is making an investment of Rs 27,477 crore.
Topics: Economy of Maharashtra • India • Maharashtra • Maharashtra State Road Development Corporation • Mumbai Nagpur Super Communication Expressway • Outer Ring Road, Nagpur • States and union territories of India • Syndicate Bank • Transport in Mumbai • Transport in Nagpur