Mumbai: Despite ongoing farmer protests and financial hurdles that the proposed 800 km Mumbai-Nagpur super expressway is facing, Chief Minister Devendra Fadnavis on Friday said the road will be a blessing for farm-related industries in the State.
Speaking at a programme held for India’s food processing industries, Mr. Fadnavis said the road will connect 24 districts of the State. “Samrudhi highway will connect Mumbai and Nagpur, which will help set up farm produce processing industries. A direct connection to the Jawaharlal Nehru Port Trust, will ensure a market for farm produce, and the processing industry will also benefit,” Mr. Fadnavis said.
He said the value chain needed to control farmer suicides in the State can be set up along the proposed highway.
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However, the State is struggling to raise money for the construction work. The State government had asked various authorities to give ₹1,000 crore each as loan to the Maharashtra State Road Development Corporation (MSRDC) for the project.
While other State bodies are yet to finalise their decision, sources say the City and Industrial Development Corporation (CIDCO), one of the richest authorities in the State, is struggling to put together the amount. “CIDCO has other commitements such as the Navi Mumbai airport and Metro. We will initially release ₹200 crore, and since the money is needed for land acquisition, its release will be monitored. We cannot commit the rest of the amount,” said a senior CIDCO official.
The Mumbai Metropolitan Region Development Authority (MMRDA), Maharashtra Housing and Development Authority (MHADA), Maharashtra Industrial Development Corporation (MIDC) and Slum Rehabilitation Authority (SRA) have been asked to contribute to the project.
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MSRDC will have to repay the loans with interest of 8.14% up to 10 years.