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|February 22, 1999||
Hudco okays Rs 8.6 billion loans for Maharashtra
The Housing and Urban Development Corporation Limited will fund various infrastructure projects in Maharashtra, including the prestigious Bandra-Worli sea-link in Bombay, to the tune of Rs 8.6 billion.
A loan of Rs 2.88 billion will be provided for the Rs 4.12 billion sea-link project of the Maharashtra State Road Development Corporation. The project is aimed at alleviating traffic congestion on the western corridor of Bombay. The entire project has been conceived to be on self-sustaining basis through generation of adequate resources by collection of toll.
Hudco cleared funding of three railway projects for financing in New Bombay across the Bombay Harbour. The Nerul-Belapur-Ruan, Belapur-Panvel (double line) and Turbhe-Nerul-Vashi to Thane railway line projects will consisting of 19 railway stations, 24 road over/under bridges, one flyover, three major bridges for the railway track and electric traction sub-station.
The total cost of the first phase of these projects was Rs 7.57 billion when conceived, out of which the railways are contributing Rs 2.43 billion, City and Industrial Development Corporation Rs 1.48 billion and Hudco's loan will be Rs 3.65 billion, Khanna said.
Besides, Hudco cleared the Public Works Department's road and bridge projects at 41 locations in the state with Hudco assistance of Rs 1.97 billion, including Nagpur, Nashik, Aurangabad, Amravati, Pune and Bombay. The other projects cleared for giving finance include water supply scheme for Shirpur Municipal Council and roads and drainage project of Chandrapur Municipal Council with Hudco loan of Rs 90 million.
Hudco also cleared Rs 1.2 billion loan for Gujarat PipavavPorts Limited for its Pipavav Port Project in neighbouring Gujarat. Another Rs 208 million loan for the water supply project of Dewas Municipal Corporation in Madhya Pradesh has also been okayed.
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