The government has acquired only 26.64% of the 9,330.04 hectares required for the proposed Mumbai-Nagpur Expressway, or the Samruddhi Corridor, Maharashtra PWD Minister (public undertakings) Eknath Shinde said in a written reply submittedin the Assembly on Friday.
The minister said that ₹10,000 crore of the total project cost of ₹46,000 crore is required for land acquisition alone.
“The State government has acquired 26.64% land out of the total 9,330.04 hectares required for the project. ₹1,631.82 crore have been spent so far on the land acquisition,” he said.
Funding sources
State-owned agencies such as Maharashtra Industrial Development Corporation (MIDC), City and Industrial Development Corporation (CIDCO), Slum Rehabilitation Authority (SRA), Maharashtra Housing and Development Authority (MHADA) and the Mumbai Metropolitan Region Development Authority (MMRDA) have provided a loan of ₹2,400 crore to the Maharashtra State Road Development Corporation (MSRDC), which is implementing the Samruddhi project.
Mr. Shinde said the State has discussed funding possibilities with the South Korean government, but did not specify whether South Korea has agreed to finance the project. According to sources, land acquisition could turn out to be the main hurdle in getting funds from South Korea. The government also met banks and financial institutions on March 8 and September 13.
No cess
The minister added that no cess would be levied on petrol and diesel in the 10 districts through which the corridor will pass.
