MH-SAMRUDDHI CORRIDOR

Samruddhi Corridor: MSRDC ties up loans of Rs 28,000 crore
    Mumbai, Sep 12 (PTI) Maharashtra Chief Minister
Devendra Fadnavis on Thursday announced that MSRDC has
achieved a financial closure of Rs 28,000 crore for the 701 km
Mumbai-Nagpur Samruddhi Corridor.
    For the Rs 55,447 crore project, Maharashtra State
Road Development Corporation has secured loans of Rs 28,000
crore from various financial institutions, he informed.
    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 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 (Rs
1,300 crore), Indian Bank (Rs 750 crore), and others (Bank of
Maharashtra, Syndicate Bank and Oriental Bank of Commerce) Rs
1,000 crore.
    MSRDC's capital investment on behalf of the state
government is Rs 27,477 crore. PTI MR
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(This story has not been edited by THE WEEK and is auto-generated from a PTI feed.)