The Maharashtra cabinet on Tuesday gave its approval for the Concession Agreement (CA) for four major infrastructure projects of more than Rs 17,000 crore on which construction work is expected to start within a period of two months.
This will pave way for the state-run Maharashtra State Road Development Corporation (MSRDC), which is a nodal agency for the project, to form special purpose vehicle (SPV) in order to get funding via loans from the bank.
The four projects for which concession agreement was approved by cabinet sub-committee on infrastructure includes augmentation of Mumbai-Pune Expressway, 17-km-long Bandra-Versova Sea-Link, Thane creek bridge-3 along with Bhiwandi-Kalyan-Shil-Phata road.
Chief Minister Devendra Fadnavis who headed the meeting on Wednesday also directed the officials to start work on all these projects within one month.
The approval of concession period also means the toll collection on Mumbai-Pune Expressway will go on till 2045 for funding around Rs 6,600 crore augmentation of Mumbai-Pune Expressway. In the case of Bandra-Versova Sea-Link, the toll collection will be up to 2053 starting from around five years after which the sea-link is ready for public use.
Further, in the case of Thane creek bridge-3, the toll collection on Vashi toll booth will be now up to 2036. Meanwhile, several companies like Reliance Infrastructure, Larsen & Toubro (L&T), Afcons Infrastructure and Navayug Engineering.
KEY TAKEAWAYS
- The projects are valued at more than Rs 17,000 crore.
- Construction work is expected to start within a period of two months.
- This will pave the way for the state-run MSRDC, which is a nodal agency for the project, to form special purpose vehicle in order to get funding via loans from the bank.
