Maharashtra Cabinet approves road projects worth Rs 24,884 crore
Mumbai, June 2
The Maharashtra Cabinet chaired by Chief Minister Devendra Fadnavis on Tuesday approved road improvement projects worth approximately Rs 24,884 crore across the state, to be executed through the Public Works Department.
Minister for Public Works, Shivendra Raje Bhosale, announced that projects worth approximately Rs 24,884 crore will be implemented for the holistic development of state roads with financial assistance from the Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB).
Under the Maharashtra State Road Improvement Project, a total financial assistance of $1,000 million (approximately Rs 8,700 crore) will be made available by the AIIB in two phases. During phase 1 of $715 million (Rs 6,221 crore), AAIB will provide $500 million (Rs 4,350 crore) while the state government's share will be of the order of $215 million (Rs 1,871 crore), said the minister.
To accelerate the state's objective of achieving a $1 trillion economy, priority under this scheme will be given to the development of roads within 'Growth Corridors'.
These include routes experiencing traffic density exceeding 5,000 PCU (Passenger Car Units) and commercial traffic accounting for more than 40 per cent of the total volume.
Under the first phase of AIIB funding, the improvement of approximately 750 kilometres of roads will be undertaken by the PWD through an open tendering process on an EPC (Engineering, Procurement, and Construction) basis, said Minister Bhosale.
The initial expenditure for these works will be borne by the State Government, which will subsequently be reimbursed by the multilateral development bank.
On similar lines, the Cabinet has also approved a proposal for road improvement in the state utilizing financial assistance from the NDB.
Under the first phase of this scheme, work on approximately 750 kilometres of roads will be initiated.
Minister Bhosale emphasized that this decision marks a major milestone for the state's infrastructure. The initiative will make Maharashtra's roads safer, higher in quality, and better equipped for heavy traffic.
Furthermore, it is expected to provide a massive boost to the development of the industrial, agricultural, tourism, and commercial sectors across the region.
— IANS
Reader Comments
Rs 24,884 crore is a massive amount. Hope the roads in rural areas also get attention, not just the urban corridors. We have potholes in my taluka that have been there for years. 🤷♂️ The PWD needs to ensure proper maintenance too, not just new constructions.
Good initiative by the Fadnavis government. However, I'm skeptical about the reimbursement model—state government bears the cost first, then gets reimbursed by AIIB. That could strain state finances if there are delays. Also, 750 km in phase 1 seems slow for a state this size. 👀
Finally, some focus on infrastructure that directly impacts daily commuters! The growth corridors idea is smart—connecting industrial hubs will boost our economy. But I really hope they consider eco-friendly construction practices and minimize tree cutting. Green roads are the future! 🌿
Great that NDB is also involved. But I've seen so many road projects get delayed due to land acquisition issues. Hope the state government has a clear plan for that. Also, 500 crore rupees per 750 km works out to about 6.6 crore per km—seems reasonable for quality roads. Let's see if it actually materializes.
As someone who travels frequently from Mumbai to Nashik, I welcome this! Our highways are in terrible shape. But I wish they'd also focus on connecting smaller towns to these growth corridors. Inclusive development should mean everyone benefits, not just industrial areas. 🙏
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