Maharashtra: New 105-km Express Corridor To Slash Vadhavan-Nashik Travel Time To 1.5 Hours, Know More
With the new route, the total distance will be trimmed to just 104.9 km, saving 78.5 km and making freight delivery lightning fast.
The Maharashtra cabinet on Tuesday approved the construction of a 105-km express freight corridor connecting the upcoming Vadhavan port in Palghar to the Samruddhi Expressway at Bharvir in Nashik district, which will slash the travel time to just 1.5 hours from the current 5 hours.
The high-speed corridor, aimed at facilitating rapid movement of freight from the western coast to the hinterland, will be implemented by the Maharashtra State Road Development Corporation (MSRDC).
The project is expected to be completed within three years, with a total estimated cost of Rs 2,528.90 crore. Of this, Rs 1,500 crore will be raised through loans from HUDCO.
This decision was taken at a Cabinet meeting chaired by Chief Minister Devendra Fadnavis, the CMO stated in a release.
The proposed direct link between Vadhavan Port and the Mumbai-Nagpur expressway will bypass the detour that vehicles currently take via the Vadodara-Mumbai Expressway.
Currently, vehicles have to travel nearly 183.48 km, including an unnecessary 82-km stretch. The new corridor will reduce this distance to 104.898 km, saving 78.582 km and cutting travel time from the current 4 to 5 hours to approximately 1 to 1.5 hours.
The corridor will pass through Dahanu, Vikramgad, Jawhar, and Mokhada talukas in Palghar district, and Trimbakeshwar and Igatpuri in Nashik district.
The connector link is crucial to support the expected increase in cargo traffic from Vadhavan Port, which is part of the Centre's Sagarmala initiative. The port is set to become a major hub for international maritime trade, and efficient hinterland connectivity is key to its success, the CMO said in a statement.
It is expected to catalyse growth for small, medium, and large industries, agriculture-related businesses, educational institutions, and IT companies. Additionally, local communities are expected to benefit from increased employment opportunities and access to new markets.
view comments
First Published:
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
11 minutes ago
- Hans India
SBI's Rs 1.2 crore bet on NSDL now worth Rs 7,800 crore in just 3 days
Mumbai: State Bank of India has hit a historic jackpot with its early investment in National Securities Depository Limited (NSDL) as what began as a modest Rs 1.20 crore stake has ballooned into Rs 7,801.80 crore in just three trading sessions -- delivering an unbelievable return of over 6,50,000 per cent. The company made its stock market debut on August 8 at Rs 880 per share, a 10 per cent premium to its IPO price of Rs 800. Since then, its shares have surged to Rs 1,300.30 -- marking a 62.5 per cent jump over the issue price in just 72 hours. State Bank of India (SBI) emerged as the biggest gainer. The bank had bought 6 million shares -- a 3 per cent stake -- at just Rs 2 each, spending only Rs 1.20 crore. Today, that stake is valued at Rs 7,801.80 crore, giving SBI an unreal paper profit of Rs 7,800.60 crore and a return of 6,50,050 per cent. IDBI Bank matched SBI's performance with its 29.98 million shares (14.99 per cent stake) bought at Rs 2 each for Rs 5.996 crore. This holding is now worth Rs 3,898.80 crore, bringing a profit of Rs 3,892.80 crore. The Specified Undertaking of the Unit Trust of India (SUUTI) also joined the 650-bagger club. It purchased 10.245 million shares (5.12 per cent stake) for just Rs 2.049 crore. That investment is now valued at Rs 1,332.68 crore, yielding a Rs 1,330.63 crore profit. Even those who paid more have made extraordinary gains. The National Stock Exchange (NSE) bought its remaining 29.999 million shares (15 per cent stake) at Rs 12.28 each, spending Rs 36.84 crore. Those shares are now worth Rs 3,900.90 crore -- a 105-fold increase. HDFC Bank bought 13.8995 million shares (6.95 per cent stake) at Rs 108.29, turning its Rs 150.54 crore investment into Rs 1,657.54 crore, an 11-bagger with Rs 1,507 crore in profit. Union Bank of India's 5.125 million shares (2.56 per cent stake) bought at Rs 5.20 have grown from Rs 2.665 crore to Rs 666.90 crore, a 249-bagger with Rs 664.23 crore in gains.
&w=3840&q=100)
Business Standard
11 minutes ago
- Business Standard
Shreeji Shipping, Patel Retail to launch maiden IPOs on August 19
Shipping and logistics solutions provider Shreeji Shipping Global Ltd and supermarket chain Patel Retail Ltd are set to launch their maiden public issues on August 19. According to their Red Herring Prospectus (RHP), the IPOs will close on August 21, and the one-day bidding for anchor investors is scheduled for August 18. The two companies will announce the price band for their public issues on Monday. So far this year, 44 mainboard companies have launched their IPOs. In addition, two IPOs of BlueStone Jewellery and Lifestyle will open on August 11, followed by the issue of agro-based firm Regaal Resources on August 12. Going by the RHP, Shreeji Shipping Global's IPO is an entirely fresh issue of 1.63 crore equity shares with no offer for sale (OFS) component. The company plans to utilise Rs 251.2 crore from the IPO proceeds for the acquisition of dry bulk carriers in the supramax category on the secondary market, and Rs 23 crore for debt repayment. The flagship company of Jamnagar-based Shreeji Group primarily focuses on non-major ports and jetties, particularly along the west coast of India. Patel Retail's IPO is a mix of a fresh issue of 85.18 lakh shares and an OFS of 10.02 lakh shares of promoters, according to the RHP. As per merchant banking sources, the IPO size is expected to be Rs 250 crore to Rs 300 crore. Proceeds from the fresh issuance to the tune of Rs 59 crore will be used for payment of debt, Rs 115 crore for funding of working capital requirements of the company, and a portion will be used for general corporate purposes. Patel Retail was established in 2008 with the launch of its first store in Ambernath, Maharashtra. Since then, it has expanded its operations throughout the suburban regions of Thane and the Raigad district in Maharashtra. The company provides a diverse range of products including food, non-food items, general merchandise, and apparel to meet the needs of families. It operates in tier-III cities and nearby suburban areas under the brand 'Patel's R Mart'. Shares of the two companies are expected to begin trading on the bourses from August 26.
&w=3840&q=100)
Business Standard
11 minutes ago
- Business Standard
Marico aims double-digit growth in Indian business from Q2, says MD
Home-grown FMCG maker Marico expects to deliver double-digit growth in the next one or two quarters in the domestic market, helped by its core franchises and expansion of new businesses, its Managing Director and Chief Executive Officer Saugata Gupta said. The company, which reported a 9 per cent rise in domestic volumes, now aims for a revenue growth of around 25 per cent this year, led by pricing actions, Gupta told PTI. "As far as overall revenue is concerned, we should be able to deliver in the mid-20s to around 25 per cent this year, given the pricing initiation," he said. Marico, which owns brands like Saffola, Parachute, and Livon, has "consistently improved volumes in sequential terms, Gupta added. "This (June) quarter, India Volume growth was up 9 per cent. So, high single-digit volume growth is possibly a base case for us. We will attempt to deliver double-digit growth in one or two quarters, which would be a great thing to do," he noted. While for its international business, it is "confident" of delivering a growth in mid-teens, based on constant currency this fiscal, said Gupta. Overall, the FMCG industry will be able to record better volume growth in the current fiscal year than FY25, led by a sequential improvement in urban demand, along with steady expansion in the rural market, the chief executive said. The urban demand at the mass-end may have been constrained, but at the premium end, it continues to be good, especially with e-commerce and quick commerce growing. The current rural growth is higher and demand is steady, led by a combination of increased MSP (Minimum Support Price), better monsoon, and overall government initiatives. However, urban demand is also improving gradually, helped by factors such as softening of inflation, especially food inflation. "The gradual improvement is also going to be a function of wage increases in the long term. This year, we also expect the tax break (Income Tax benefits) to have a positive impact. We anticipate urban demand to gradually improve in subsequent quarters," he noted. The process of volume-led growth has already been started in the June quarter of FY26, said Gupta. "If you look at this Q1, there is an improvement. And as we go towards Q2 and further ahead in FY25-FY26, the overall volume growth is expected to be better than FY24-FY25," he said. In the June quarter, several listed FMCG companies like HUL and Dabur have said rural markets are outperforming urban markets in terms of growth for over five consecutive quarters. However, urban markets have also improved sequentially. "I think the FMCG sector this year will be able to post better volumes than what it had posted last year," Gupta pointed out. In FY25, Marico has crossed the milestone of becoming a Rs 10,000 crore revenue company, and now, it targets to be a Rs 20,000 crore company by 2030 by growing its revenue two-fold over the next five years.
