Maharashtra Govt Approves 12,998 Crore Loan Package for Nagpur Infrastructure Projects The Maharashtra government has approved state guarantees totaling nearly 13,000 crore for two major infrastructure projects in Nagpur: the New Nagpur Business District and the New Outer Ring Road. The funding will come from HUDCO, the central government's housing and urban finance corporation. The approvals, issued through separate government resolutions, mark revised versions of earlier decisions and are designed to support the development of these projects. The New Nagpur Business District, anchored by the International Business and Finance Centre (IBFC), will receive a guarantee of 4,999.28 crore. This covers a principal loan of 3,000 crore and projected interest of 1,999.28 crore. The Outer Ring Road project, which includes four truck-and-bus terminals, will be funded with a guarantee of 7,999.13 crore, covering a principal of 4,800 crore and projected interest of 3,199.13 crore. Both guarantees replace earlier approvals, with the IBFC project superseding a resolution dated November 12, 2025, and the Outer Ring Road project replacing one from October 9, 2025. The Nagpur Metropolitan Region Development Authority (NMRDA) will borrow the loans from HUDCO at an annual interest rate of 8.60%, with repayment spread over 60 equal installments over 15 years. The loans will be drawn down within a 12-month window starting from April 20. The IBFC project is part of a larger 11,300 crore New Nagpur Business District, which will span 692.06 hectares in Mouza Ladgaon and Mouza Godhani in Hingna. NMRDA will implement the project with NBCC (India) Ltd as the consultant. The loan will fund the land acquisition phase, while approximately 3,500 crore has been allocated for Phase I development.#nagpur #maharashtra_govt #hudco #nmrda #ibfc
