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MSRDC acquires 50 percent of land for Nagpur-Mumbai expressway

Friday, 12 Jan 2018
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The Maharashtra State Road Development Corporation (MSRDC), the nodal authority for Nagpur-Mumbai super-communication expressway (NMSCE) project, has completed acquisition of 50 percent of the total land area of 9,330 ha it requires for the expressway.

MSRDC is planning to float the request for proposal (RfP) documents next week to invite companies to bid for the project.

The project is being tendered under the engineering, procurement and construction (EPC) model.

In addition, MSRDC already has commitments from 12 banks for an amount of Rs 12,000 crore. The financing from banks is expected to take care of construction costs of the project, which is pegged at about Rs 24,000-Rs 26,000 crore.

For acquiring land, MSRDC has received about Rs 5,500 crore from the five state-owned bodies in Maharashtra i.e. City and Industrial Development Corporation of Maharashtra (CIDCO), Maharashtra Industrial Development Corporation (MIDC), Slum Rehabilitation Authority (SRA), Maharashtra Housing and Area Development Authority (MHADA), and Mumbai Metropolitan Region Development Authority (MMRDA).

In addition, Housing and Urban Development Corporation (HUDCO) has given Rs 1,800 crore, while MSRDC itself may invest around Rs 3,000 crore.

The project will entail an investment of Rs 46,000 crore.

Maharashtra State Road Devp. Corpn. Ltd.
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