State govt approves Rs20k cr for Shaktipeeth Expressway land acquisition
This includes provision of Rs12,000 crore to be raised as loan to fund the taking over of the locals' land and Rs8,000 crore towards the interest outgo of the debt.
One of the pet projects of chief minister Devendra Fadnavis, the Shaktipeeth Expressway will be developed on the lines of the Nagpur-Mumbai Samruddhi Mahamarg, which is an access-controlled highway. The over 800km Shaktipeeth Expressway is expected to reduce the road travel time to Goa by 8 to 10 hours.
At present, it takes around 20 hours to reach the state. The project also faced opposition in parts of Kolhapur district, where locals with land along the stretch are not willing to give up their holdings.
The Maharashtra State Road Development Corporation (MSRDC), which is implementing the project, will be raising debt for the land acquisition. The funds are likely to be borrowed from the Housing and Urban Development Corporation (HUDCO), and the MSRDC has already secured an in-principle approval from the agency.
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"The loan's tenure may be for 15 years," said joint managing director of MSRDC, Anilkumar Gaikwad, adding, "The plan is to finish the joint measurement of the land by August. The actual process of land acquisition is planned to be completed by December."
The exact area of the land required for the road will be estimated based on the measurement, which is underway, a source said.
In August last year, the state govt withdrew the application for securing an environmental clearance (EC) for the project from the Ministry of Environment, Forest, and Climate Change (MOEFCC).
This put the ambitious project on hold. The EC was withdrawn considering the opposition to the expressway in parts of Kolhapur. However, in February, the project was revived with a fresh EC for the stretch where there is no opposition from the locals.
A decision on the patches where the project is facing opposition would be taken at a higher level, said an official who is part of the project. The expressway would connect 18 religious shrines in both states, hence the name Shaktipeeth. This includes three Shaktipeeths (shrines of goddess) and another temple of the same tradition. This gives the pilgrimage the name Sade Teen Shaktipeeth, one of the most frequented places of worship in the state.
The current cost of the project is estimated at over Rs84,000 crore, said sources.
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