Public sector banks to finance Nagpur-Mumbai Expressway project

17 Jan 2019 CW Staff

In order to boost Chief Minister Devendra Fadnavis’s pet project, the Mumbai-Napur Expressway (also known as Samruddhi Corridor), public sector banks have agreed to provide finance for the project. Reportedly, the State Bank (SBI) of India has agreed to lend Rs 85 billion, which is the highest amount that has been received for the project.

Other than SBI, banks such as Punjab National Bank, Bank of Baroda, Bank of Maharashtra and the Life Insurance Corporation of India (LIC) have agreed to finance the project.

Being constructed by the Maharashtra State Road Development Corporation, the estimated cost of the project is Rs 500 billion. Of the total cost of the project, nearly Rs 260 billion is required for the construction of the expressway. The corporation is reportedly falling short of Rs 30-Rs 40 billion to the required Rs 260 billion. The consortium of banks, therein, have agreed to pitch in the shortfall.

At present, nearly 95 per cent of the land acquisition of the project has been completed and has thus paved the way for banks to lend money for the project. However, the acquisition in the stretches of Amravati and Aurangabad is yet to commenced. Nearly 8,311 hectare has been acquired for the project. Of the 701 km of the total length of the project, construction of almost 600 km is expected to be completed by December 2020.

Infrastructure Urban

04 Dec 2025

ISRO’s IMAT Success Boosts Readiness for Maiden Gaganyaan Mission

Union Minister of State for Science and Technology Dr Jitendra Singh informed Parliament that ISRO has achieved a key milestone in its preparations for India’s first human space mission with the successful completion of the Integrated Main Parachute Airdrop Test (IMAT). He said in the Lok Sabha that the test forms a central part of the qualification campaign for the Crew Module’s parachute-based deceleration system, one of the most vital elements in human-rating the mission.According to Dr. Jitendra Singh, the IMAT recreated one of the most demanding descent conditions by intentionally del..

Gyanesh Kumar Takes Charge as Chair of International IDEA Council

Chief Election Commissioner of India Gyanesh Kumar has assumed the Chairship of the Council of Member States of the International Institute for Democracy and Electoral Assistance for 2026. The ceremony in Stockholm was also attended by India’s Ambassador to Sweden, Anurag Bhushan. India, a founding member of International IDEA, has long contributed to the organisation’s governance and global democratic dialogue, and the new Chairship signals broad recognition of the Election Commission of India as a trusted and innovative election management institution.During his visit, Kumar held discuss..

Coal Mines Boost Local Growth and Support India’s Energy Self-reliance

The Magadh and Amrapali coal mines in Jharkhand are playing a pivotal role in strengthening India’s energy security, contributing nearly half of Central Coalfields Limited’s total coal production in 2024–25. Both mines support the broader goal of ensuring steady coal availability for the power sector under the vision of Aatmanirbhar Bharat. Magadh has estimated mineable reserves of 854.91 million tonnes, while Amrapali holds 456.34 million tonne. For FY 2025–26, the two are expected to generate net sales revenues of Rs 28.12 billion and Rs 23.67 billion respectively. Local development ..