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.

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