The Maharashtra State Road Development Corporation limited has secured credit lines worth Rs 215 billion to finance the construction of the Multi-Modal Corridor, an upcoming road project near Mumbai. This new road, forming a part of a larger infrastructure project, is expected to enhance road quality and reduce traffic.
Key lenders involved in the transaction include India Infrastructure Finance Company Limited (IIFCL), the Rural Electrification Corporation (REC) Limited, and the National Bank for Financing Infrastructure and Development (NaBFID). They have committed to lending Rs 100 billion, and Rs 30 billion each, respectively. Other lenders involved in the transaction include the Bank of India, the Bank of Maharashtra, the Punjab National Bank, and the UCO Bank. The credit facilities will be disbursed in phases.
The construction for the road project is expected to begin in April 2026.