MSRDC To Issue Bonds For Pune Ring Road And Virar-Alibaug Corridor Projects
MSRDC to Develop 117 Villages Along Pune Ring Road, Appointed as Special Planning Authority
The Maharashtra State Road Development Corporation (MSRDC) has announced plans to raise funds through bonds for two major infrastructure projects: the Pune ring road and the Virar-Alibaug multimodal corridor. The total bond issuance is expected to amount to Rs 27,750 crore, with Rs 22,250 crore allocated for the Virar-Alibaug corridor and Rs 5,500 crore for the Pune ring road.
The decision to opt for bonds came after challenges with obtaining loans from HUDCO for these ambitious projects, according to a senior MSRDC official. Significant progress has been made in land acquisition for both projects, with construction scheduled to commence after the monsoon season. Anil Kumar Gaikwad, vice-chairman and managing director of MSRDC, highlighted that the Pune ring road, spanning 136 km across eastern and western corridors, aims to alleviate traffic congestion in Pune by its completion target of September 2027.
The western corridor of the Pune ring road, covering 65.45 km, will be executed in five phases, while the 71.35-km eastern corridor will be developed in four phases. Funding for the western phase has been secured, with the state government securing a loan from HUDCO to cover the estimated Rs 10,000 crore cost of land acquisition.
Additionally, MSRDC is venturing into its first metro rail project, the Virar-Alibaug Metro rail, which is expected to span 136 km and require approximately Rs 55,000 crore. This initiative marks a significant expansion for MSRDC, traditionally focused on road and bridge construction.
These developments are poised to redefine transportation infrastructure in Maharashtra, promising enhanced connectivity and urban development benefits across the region.
The bond issuance aims to mobilize resources efficiently to meet the ambitious timelines set for these transformative projects.
