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Economic: Rs 480 cr unpaid

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    • Swapnil Rawal Tags : mumbai, development, worli sea link Posted: Thursday , Jul 02, 2009 at 0243 hrs

    According to sources, the cash-strapped road development corporation has to recover Rs 2,300 crore from the state government. Sources also add that MSRDC has stopped payment of contractors for several projects across the state and unless grants from the state government are extended, major projects could be in jeopardy.

    Bill and breakup

    Rs 1,634 crore: Overall project

    Rs 580 crore: Government grant

    Rs 150 crore: MMRDA loan

    Rs 500 crore: Bank loans

    Rs 76 crore: From bonds

    Rs 328 crore: Escalation, no decision yet on how to raise it

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