Govt signs MoU for Samruddhi Corridor

The Maharashtra government has signed a memorandum of understanding (MoU) with Malaysia-based CIDB Holdings for Nagpur-Mumbai Samruddhi Corridor. It is expected that the CIDB Holdings will invest sizable amount of funds from Rs.10,000 crore to Nagpur-Mumbai Samruddhi Corridor worth Rs.30,000 crore. The state government is expecting this project to see light of day by 2019. Interestingly, this project is based on land pooling model, which was earlier promoted by Andhra Pradesh government. Along the highway, 24 townships will be developed complete w ith basic amenities and related infrastructure. The government has sanctioned Rs.500 crore for each of these nodes, which works to Rs.12,000 crore. The MSRDC will be the executing agency for these nodes.