The Asian Development Bank (ADB) is all set to infuse investments worth $1 billion (Rs. 31,500cr) into the 793-km Mumbai-Nagpur communication super expressway project. A high-level ADB team will visit Mumbai to hold talks with the Maharashtra State Road Development Corporation (MSRDC), the nodal agency for the proposed project.
The expressway is expected to reduce the travelling time between the two cities to eight hours from 16 currently. The construction cost for the eight-lane expressway is estimated to be Rs. 30-cr a km involving six lanes of super communication highway and two lanes of service roads, utility shifting, bypass, and other structures, a MSRDC official, who will be involved with the talks with ADB, which generally gives $350 million for each project said. In addition, the Japan International Cooperation Agency (JICA) has also expressed its willingness to provide loan for the proposed expressway.