MSRDC to get Rs 900 crore from Pune highway deal

The Maharashtra State Road Development Corporation (MSRDC) is anticipating a pre-payment of nearly Rs 900 crore by the successful bidder "" Ideal Road Builders "" which will take over the operation and maintenance of the 94-km Mumbai-Pune road for 15 years.

MSRDC managing director Anil Lakhina told Business Standard: "The successful bidder has to make the upfront payment till May-end. However, we have been intimated by the bidder that the payment may be made by March-end."

The corporation hopes to, besides earning interest on this sum, utilise the same for making payments that has become due on the Mumbai-Pune expressway project as well as the flyover projects undertaken in Mumbai city earlier.

Around Rs 750 crore is estimated to be paid out for the two projects in the current financial year.

MSRDC currently pays Rs 300 crore annually in interest on the Rs 2,000 crore borrowed for the expressway project, while revenue (from toll tax) is pegged at Rs 85 crore a year.

Toll collection on the Mumbai-Pune Expressway and the Mumbai-Pune NH 4 is also to be handled by the successful bidder.

The expressway was built at a cost of Rs 1,630 crore.