MSRDC to Float Bonds for Pune Ring Road and Virar-Alibaug Corridor
The Maharashtra State Road Development Corporation (MSRDC) is set to issue bonds to fund the Pune ring road project and the Virar-Alibaug multimodal corridor, with bonds worth Rs 27,750 crore being floated. Of this, Rs 22,250 crore is allocated for the multimodal hub, and Rs 5,500 crore for the Pune Ring Road project. This decision follows roadblocks in obtaining loans from HUDCO. With 90% of land acquired for the western phase of the Pune ring road and significant progress in land acquisition for the eastern phase, construction is slated to begin post-monsoon. The 136-km project has attracted 19 bids from various companies, with five companies to be selected for different stretches, executed in nine phases.
The entire ring road, expected to decongest Pune's city roads, is projected to be completed by September 2027. The 65.45-km western corridor will be built in five phases, while the 71.35-km eastern corridor will be constructed in four phases. An MSRDC official stated that funding for the western phase is secured, with the government obtaining a loan from HUDCO. Land acquisition, costing Rs 10,000 crore and covering 1,900 hectares across 87 villages, is partly funded by HUDCO loans and additional state government funds. This transformative project is expected to significantly improve traffic flow and urban development in Pune, according to a town planner.
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