Consortium of banks led by SBI agree to finance Nagpur-Mumbai expressway

February 4, 2019

A consortium of banks led by the State Bank of India (SBI) has agreed to provide Rs 220 billion (of the Rs 260 billion required) for construction of the Nagpur-Mumbai Expressway. SBI will provide the maximum amount of Rs 85 billion for the project. Other lenders include Punjab National Bank, the Bank of Baroda, the Bank of Maharashtra, and the Life Insurance Corporation of India. The corridor will have 25 toll plazas and toll will be collected for a period of 40 years. Around 95 per cent of the land required for the project has already been acquired. Of the total expressway length of 701 km, around 600 km is expected to be completed by December 2020.