Despite Shiv Sena chief Uddhav Thackeray's opposition to the project, the Sena ministers allegedly remained silent.
Mumbai: Maharashra chief minister Devendra Fadnavis’s ambitious project, the Mumbai-Nagpur Samruddhi corridor, received a nod from the Cabinet on Tuesday for raising Rs 35,000 crore loan from bankers and was given requisite permissions.
Despite Shiv Sena chief Uddhav Thackeray’s opposition to the project, the Sena ministers allegedly remained silent. Now, the Maharashtra State Road Development Corporation (MSRDC)-led Special Purpose Vehicle (SPV) will sign the agreements with the bankers.
The state cabinet approved the tripartite agreement between the state, the MSRDC and SPV and the draft of the concessional agreement between SPV and the other parties. The government has now given all the power to the SPV company, which is constructing the Mahamarg, in which MSRDC is a 51 per cent stakeholder, of developing new towns and townships along the 710 km road. The SPV has been given the power to levy toll and decide the period for collection.
Despite Sena chief, Mr Thackeray’s opposition to the project, all requisite sanction was given by the cabinet and the Shiv Sena ministers remained silent. The MSRDC department comes under Sena minister Eknath Shinde. Still many important sanctions were given for the project and it is likely to take off soon.
The state government has taken on a financial burden for the project by giving assurance of filling shortfalls. After the agreement with the bankers and finalising financial bids, work on the project will commence soon, said senior officers.
