MSRDC Raises Funds for Samruddhi Corridor

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.