Maharashtra cabinet gives its approval for 105km freight corridor to connect Mumbai-Nagpur Samruddhi Expressway and Vadhavan port
The 105 km expressway was approved in the cabinet meeting on Tuesday.
The project will be undertaken through the Maharashtra State Road Development Corporation (MSRDC).
A loan of Rs 1,500 crore will be raised for the project from the Housing and Urban Development Corporation (HUDCO). Along with the loan, the cabinet also approved a provision of Rs 2,529 crore. The project work will be completed in three years, officials said.
You Can Also Check:
Mumbai AQI
|
Weather in Mumbai
|
Bank Holidays in Mumbai
|
Public Holidays in Mumbai
Vadhavan Transshipment Port is being built through Vadhavan Port Project Ltd.
"In order to reach all parts of the country through international water transport via Vadhavan port quickly and at an affordable price, this port is proposed to be connected to the Samruddhi Expressway. The National Highways Authority of India has currently undertaken the work of a 32 km highway from Vadhavan port to Tawa under the Sagarmala Project.
To reach Vadhavan port from Samruddhi Mahamarg, one has to go through Bharveer-Amane to Vadodara-Mumbai Expressway.
Due to this, an unnecessary journey of about 82 km is required. Considering the future large-scale traffic of Vadhavan port, it is very necessary to build a highway suitable for traffic in Vidarbha, Marathwada, and North Maharashtra," an official said.
"This expressway will pass through Dahanu, Vikramgad, Jawhar, and Mokhada talukas of Palghar district and Trimbakeshwar and Igatpuri talukas of Nashik district.
Due to this highway, the distance from Tawa Bharveer to Vadodara-Mumbai Expressway will be 104.898 km instead of 183.48 km. Due to this, the distance between Tawa Bharveer and Bharveer will be reduced from four-five hours to 1-1.5 hours, which will result in a huge saving in transportation time.
Due to the speedy communication, small, medium, and heavy industrial factories, agricultural institutions, educational institutions, IT companies, and agro-industrial centres in Palghar and Nashik districts will benefit. This will provide better employment and a better market to the locals," an official said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
9 minutes ago
- Economic Times
What's driving the surge in IPOs among jewellery firms?
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: A slew of jewellery retail firms is set to tap the primary markets , with at least 10 companies lining up to raise money through initial public offerings (IPOs) over the next 3-6 months, according to people familiar with the matter. Bankers and industry officials said constraints on raising money through lenders, rich valuations and a thriving IPO market are prompting these companies to explore the public market firms have already filed their IPO documents with Securities and Exchange Board of India (Sebi). These include PNGS Reva Diamond Jewellery, backed by PN Gadgil & Sons, Chennai-based Lalithaa Jewellery Mart and Priority Jewels, a Mumbai-based jewellery the companies preparing to file their draft red herring prospectus (DRHP) are RiddiSiddhi Bullions Ltd (RSBL), Nagpur-based Rokde Jewellers and Shankesh Jewellers, Swarnshilp Chains & Jewellers, Royal Chains, and Waman Hari Pethe, according to investment bankers in the know. Emails and calls to these firms remained unanswered."Jewellery companies are among the few consumer sub-sectors that are doing well in an otherwise sluggish consumer market," said Bhavesh Shah, managing director, head - Investment Banking , Equirus Capital.'Investors recognise this trend and are willing to play even the regional brands, which have provided good returns to the shareholders. This is encouraging jewellery companies to consider tapping the capital markets given the capital needs of the business.' The Rs 820-crore IPO of Bluestone Jewellery & Lifestyle will open its IPO from August 11. Barring PNGS Reva, which is aiming to raise Rs 450 crore in the IPO, all the other companies plan to raise between Rs 1,000 crore and Rs 5,000 crore, said bankers. Executives at jewellery firms said IPOs have opened an alternative fundraising route to the tradtional avenues.'The jewellery industry, once largely unorganised, is gradually becoming more structured but access to traditional financing remains a challenge for many players,' said Rajesh Rokde, promoter of Rokde Jewellers and chairman of All India Gems and Jewellery Domestic Council (GJC). 'Going public through an IPO provides an alternative route to raise capital and fund business expansion.'Industry officials said the jewellery sector faces several barriers when it comes to securing traditional bank finance. Many firms operate with high inventory levels in the form of gold and diamonds, which see sharp price swings and are under regulatory scrutiny
Time of India
22 minutes ago
- Time of India
State govt warns of action on colleges charging higher fees
Mumbai: After receiving multiple complaints against unaided professional colleges demanding fees higher than those fixed by the state's Fee Regulatory Authority (FRA), the state govt has issued a resolution warning of action for overcharging. Apart from asking colleges to mandatorily display the fees fixed by FRA on their portal and notice boards in English and Marathi and to follow the govt scholarship schemes, the GR also discusses setting up a helpline number for students to raise complaints. While the fees regulatory authority reiterates its stand in different orders, this year, the govt has also issued a resolution warning colleges of action. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai Meanwhile, the FRA has issued a circular warning colleges of penal action if they charge students an amount higher than the prescribed limit for caution money. The FRA fixed an upper limit for caution money that can be charged for all professional courses, starting with Rs 50,000 for MBBS courses. Colleges have been warned of action if they charge caution money under any other head. The FRA has also directed that hostel and mess facilities should be provided on an optional basis, and students should not be forced into opting for these facilities. In recent years, admissions to professional courses have been plagued by concerns of overcharging and the denial of seats to eligible students, despite the existence of a fee and admission regulation system. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The #1 Mistake People with Ringing Ears Make Every Night in Bed Derila Ergo Undo The higher and technical education department's GR mentions students who are eligible for govt schemes can raise complaints with the govt or the directorates of higher and technical education if any colleges are charging additional fees from them. It added a helpline number and help desk link will be made available on the state's CET cell website and communicated to students. The GR also reiterates that colleges should not charge additional fees or fees for more than one academic year under any circumstances. Last year, some private medical colleges were accused of seeking fees for the entire duration of the course. The matter was reported to the state's Admission Regulatory Authority. The govt threatened action against institutions not complying with the FRA's fees and directly or indirectly asking for extra fees in cash or kind. It said this will attract action as per Section 20 of Maharashtra Unaided Private Professional Educational Institutions (Fees and Admissions) Act, 2015. Section 20 discusses a fine of Rs 1 lakh, exceeding up to Rs 5 lakh, or twice the amount charged in excess of fees fixed by FRA, whichever is higher, for the first contravention, and Rs 2 lakh or Rs 10 lakh for the subsequent contravention. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Time of India
22 minutes ago
- Time of India
BEST Earnings Go Up by a Crore Daily; Ridership Drops to 25 Lakh
Mumbai: The BEST announced on Monday that with a hike in BEST bus fares since May 9, the daily ticket earnings rose by a crore rupees—from Rs 2.25 crore to Rs 3.25 crore—but the ridership dropped to 25 lakh. In fact, the ridership fell drastically from 32 lakh prior to the fare hike in May to 25 lakh in August, sources said. Apart from ridership, the fleet of buses also dipped significantly, and this has gone below the pre-Covid level—from 3,500 buses in 2019 to 2,680 buses at present. Volunteers from the citizens' group Aamchi Mumbai Aamchi BEST said that the migration of bus commuters to share autos and share taxis was a primary cause of the drop in ridership over the past three months. The minimum bus fare was hiked from Rs 5 to Rs 10, while the minimum AC fare was increased from Rs 6 to Rs 12 in May. In comparison, the minimum share auto fare is Rs 10. "Several commuters, frustrated after waiting for buses for 40 minutes, do not mind switching to share autos at the same price from the railway station," said an AMAB volunteer. Similarly, the delay in the delivery of new electric AC buses on wet lease led to a drop in fleet size. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Victoria Principal Is Almost 75, See Her Now Reportingly Undo A transport analyst said: "The BEST signed two contracts totalling the procurement of 4,500 e-AC buses from a contractor and 250 from another contractor. Around 700 buses have been delivered, and the remaining are yet to arrive in the fleet. At the same time, it is phasing out old buses owned by the undertaking." The buses are being phased out as they have completed the lifespan of 15 years. This BEST-owned fleet dipped from 3,337 buses in 2019 to 419 at present. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai When contacted, passengers' rights activist Gaurang Vora said: "BEST should seriously increase its fleet strength and reduce fares to some extent to woo more riders, especially from the poor strata of society." Volunteers of AMAB protested outside 22 bus depots on BEST's Foundation Day last week to demand a reduction in bus fares. "The staff, including drivers, should also improve their behaviour. I travel frequently, and I have noticed that the staff is rude. Drivers often brake suddenly, drive rashly, and jump signals. When we speak to them, they are abusive. This was totally unheard of in the past. In the past, they used to fear the public and apologise," Vora said. BEST's present fleet comprises 419 undertaking-owned buses and 2,269 buses on wet lease. The buses cover an average 160 km run per day, with the turnout being 85% to 90%. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
