New Nagpur Project: Transforming Maharashtra's Future Economy
The ambitious New Nagpur project aims to establish Maharashtra's future IBFC, receiving a boost with two MoUs signed. The project includes integrated utility tunnels, a cooling system, and more. NBCC and HUDCO are key partners, with Rs 11,300 crore in funding secured to expedite development.
- Country:
- India
The New Nagpur project, poised to become Maharashtra's International Business and Financial Centre (IBFC), gained significant momentum following the signing of two strategic Memorandums of Understanding (MoUs) on Monday. This landmark development was witnessed by Chief Minister Devendra Fadnavis.
The Nagpur Metropolitan Region Development Authority (NMRDA) entered into agreements with two major public sector undertakings: NBCC (India) Ltd and Housing and Urban Development Corporation Ltd (HUDCO). These agreements, according to a statement from the Chief Minister's Office, are set to significantly accelerate the development of New Nagpur, reshaping its economic and business landscape.
The project encompasses state-of-the-art facilities such as integrated underground utility tunnels and a district cooling system. HUDCO will provide Rs 11,300 crore in funding, with Rs 6,500 crore allocated for land acquisition and infrastructure, and Rs 4,800 crore set aside for the Nagpur Outer Ring Road project. This funding is expected to expedite infrastructure development, making New Nagpur a game-changer for the region's economic profile.
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