Debt-ridden MSRDC is planning to raise funds through land bank on Mumbai-Pune Expressway

Q: Maharashtra CM Devendra Fadnavis had recently formed a infrastructure panel and it is expected that the financial issue relating to MSRDC will also be raised in its first meeting.

Roshni Pawal, Mumbai

10th July 2015

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Replies (3)

Hi all,
As per the latest news, the proposal of widening of Mumbai-Pune Expressway will be put forward in the committee and once it is approved, they will take a decision on raising finance. The MSRDC has land bank and it will be used on a commercial basis to raise fund.

Ravi Waghmare, Mumbai

10th July 2015

Comment

True Ravi,
MSRDC owns a huge land bank on both sides of Mumbai-Pune Expressway and also at Bandra in Mumbai. Shivadi-Nhava Sheva sealink, Thane to Dombivli road parallel to Thane creek are some of the projects which MSRDC will consider doing in the 2nd phase.

Niyati Juthali, Mumbai

10th July 2015

An improved road and a tunnel to widen 6-lane stretch to 14-lane on the existing Mumbai Expressway is the dream project of Maharashtra CM and he is giving priority to widen the Expressway and it will cost them around Rs 7000 crore. That's why they have formed a committee on infrastructure which is headed by CM Shinde. MSRDC, PWD, Finance minister and their secretaries are members of the committee.

Niyati Juthali, Mumbai

10th July 2015

Comment

Hello Roshini,
This happened only because of the change in the Government. During the Congress-NCP rule in the state, MSRDC failed to construct any new project across the state. And now department has undertaken many projects of roads and tunnel development and that Fadnavis is backing his department.

Govinda,

10th July 2015

Comment

@Govinda,
Congress-NCP rule was nothing but the politics of revenge against each other and thus MSRDC could not work during their rule. The difference between Congress-NCP and BJP-Shiv Sena government is the understanding between two parties and the complete backing of chief minister in all development projects.

Lewin G,

10th July 2015

Right Lewin,
MSRDC is ready to raise funds from the market. There are many financial institutions that will offer them loans. They will ask Life Insurance Corporation (LIC), private banks and investors to invest in MSRDC projects. They are also planning to bring government bonds.

Govinda,

10th July 2015