Fadnavis signs Nagpur E-way MoU with South Korea

The Maharashtra government has signed a memorandum of understanding with South Korea's ministry of land, infrastructure and transport on “strategic partnership for infrastructure development projects“. The MoU was signed in the presence of chief minister Devendra Fadnavis, who is currently on a two day tour of South Korea.

Under the MoU, it has been agreed to share implementation strategy , legal systems, policies, technologies, experience and information in the field of infrastructure development projects, with special focus on smart cities, expressways, including the Nagpur-Mumbai Expressway, airports and Metro rail. “We have proposed to form a special purpose vehicle with the participation of authorities and public corporations on both sides to execute key projects,“ a senior bureaucrat said.

“The special purpose vehicle will explore the possibility of financing and executing infrastructure development projects, particularly the Nagpur-Mumbai Expressway . We have proposed to take assistance of the Korea Expressway Corporation as well as the Korea Land and Housing Corporation for the expressway and key housing projects in the state,“ he added.

The ministry of land, infrastructure and transport will appoint an independent nodal officer, while the state will name a nodal officer for effective coordination.

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