The Maharashtra State Road Development Corporation (MSRDC) has approved a Rs 356 billion loan to pay for land acquisition compensation. The decision will give a significant boost to the Virar-Alibaug multi-modal corridor and the Pune ring road projects.
It will also expedite other major projects, such as the Jalna-Nanded Expressway, because land for it will be acquired through the same fund.
The first phase of the Virar-Alibaug corridor will be 98.5 kilometres long, with 1,000 ha of land acquired, as well as 2,000 ha for the 173-kilometer Pune ring road and the 180-kilometer Jalna-Nanded expressway.
The Virar-Alibaug project will cost Rs 550 billion in total, with the land alone costing Rs 220 billion.
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