SPV to accelerate Nagpur-Mumbai Samruddhi corridor.

The ambitious corridor between Mumbai and Nagpur is set to gain some momentum with the State government announcing the formation of a special purpose vehicle (SPV) for the ₹45,000 crore project.

The Public Works Department (PWD) has named the new company Nagpur Mumbai Super Communication Express Way Limited for the augmentation of the Maharashtra Samruddhi Mahamarg.

The SPV will not only help speed up land acquisition but also generate better financing and operational control for contractors who have been leased large chunks of the project work, State government officials said on Tuesday. “The designation of the officials of the Maharashtra Industrial Development Corporation (MIDC), which is the nodal agency, has also been altered accordingly,” said PWD Under Secretary, Avinash Dhondge.

The SPV’s primary task would be to assist in acquisition of land which is underway in as many as 10 districts. So far, officials informed, 9,800 hectares has been acquired with a ‘consensus and negotiation’ based approach.

The 700-kilometre long super communication expressway will be connected to 24 nodes, which will be developed as Smart Cities in future. The expressway, approximately costing ₹45,000 crore, will pass through 10 districts, and influence development in 14 others.

The SPV’s announcement comes at a time when the government is under pressure over the death of a farmer from Dhule, who committed suicide over a faulty compensation.

Dharma Patil consumed poison after he received ₹4 lakh for his five acres acquired for a thermal power plant.

He had claimed a neighbouring farmer got ₹1.89 crore for land not even half the size as his.

THE HINDU