Maharashtra Government today sanctioned Rs 1,413 crore for the much-delayed Ahmednagar-Beed-Parli Vaijnath railway line project.
With the investment of Rs 1,413 crore, the state government will be a 50 per cent equity holder in the project which is estimated to worth Rs 2,826 crore, with Centre doing the rest of funding.
"This decision on the eve of first 'smrutidin' (death anniversary) of our beloved leader Gopinathji Munde is a tribute and a step towards fulfilling his dreams," Chief Minister Devendra Fadnavis tweeted.
The amount would be made available in phases through budgetary provision.
The decision is taken because the project, once completed, will help in expediting development in the backward rural areas, an official from the Chief Minister's Office (CMO) said.
The state government had in 2009 decided to share Rs 505 crore of the total cost (Rs 1,010 crore) of the project. However, slow progress on its implementation resulted into escalation of cost.
The land acquisition for the project is in final stages and the new railway line will boost infrastructure development in Marathwada region, the official said.
