Project Overview

• Maharashtra State Road Development Corporation (MSRDC) has been entrusted by Government of Maharashtra (GoM) with the development of Access Controlled Hindu Hurudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg a.k.a. Nagpur-Mumbai Super Communication Expressway (NMSCEW), on a greenfield alignment, connecting 24 districts of Maharashtra. 
• The Expressway will have a design speed of 150 kmph and is expected to reduce the travel time from present 16 – 18 hours to 7-8 Hours. Proximity to adjacent states like Madhya Pradesh and Chhattisgarh shall enhance connectivity of these states with the coastal region of Maharashtra, resulting in enhanced trade and growth in the region. 
• A tripartite Concession Agreement has been executed amongst NMSCEL (SPV of MSRDC) as the Concessionaire, MSRDC as the Sponsor & GoM as the Concessioning Authority.
• The Project Cost is estimated to be ~INR 555 Bn, which is proposed to be funded by way of debt facility of INR 280 Bn and by way of equity / sponsor’s contribution of INR 275 Bn. 

SBICAPS Value Add

• SBICAPS was appointed as the Sole Financial Advisor for the project and Mandated Lead Arranger for INR 280 Bn Facility for the project. 
• SBICAPS was associated with MSRDC from inception of transaction including transaction structuring, fund syndication, coordinating for documentation and  finalizing the security structure for the transaction. 
• SBICAPS also provided assistance to the Company in structuring the TRA structure to enhance the bankability of the Project.