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Mumbai: The Maharashtra Cabinet led by Chief Minister Devendra Fadnavis on Tuesday took a significant step to accelerate the Virar to Alibaug Multipurpose Motorway (VAMMC) project by approving the purchase of Rs 37,013 crore loan from Housing and Urban Development Corporation (HUDCO) backed by government guarantee.
The Cabinet also decided to close down the defunct Government Asset Reconstruction Company, MAHA ARC Limited.
The 126.3 km long corridor aims to connect major industrial and logistics clusters in Mumbai and its suburbs, including the Jawaharlal Nehru Port Trust and the upcoming Navi Mumbai International Airport, with the Mumbai Trans Harbor Sea Link. The project will be developed on build, operate and transfer (BOT) model after initial tenders were found unviable under the engineering procurement construction route.
A facility clause has been approved to ensure repayment security for HUDCO in the event of revenue shortfall.
In a related decision, the Cabinet formally approved the closure of Maha ARC Limited, a state-promoted asset reconstruction company formed in 2022. The Reserve Bank of India had refused a license to operate, making continuation of the entity not legally possible.
The Cabinet also approved amendments to the Maharashtra Land Revenue Code, 1966, covering permission and taxation of non-agricultural land use. It approved an annual financial assistance of Rs 7 crore for Lakshmi Narayan Innovative Technology University, Nagpur for the period 2025-26 to 2029-30.
Housing assistance was sanctioned under the Pradhan Mantri Awas Yojana for 30,000 houses for unorganized workers in Solapur, with exemption from unearned income, donation duty and non-agriculture tax.
Several judicial infrastructure proposals were accepted, including the establishment of a District and Additional Sessions Court at Ghodnadi in Pune district and a Senior Civil Court at Paithan in Chhatrapati Sambhajinagar district. Necessary posts will be created for judicial officers and employees.
A major decision in the health sector included setting up an Urban Health Commissionerate under the Public Health Department to decentralize urban health services.
The Cabinet also approved regularization of contractual employees who have completed ten years of service under the National Health Mission as a one-time measure. Additionally, the remuneration of field workers involved in Ayushman card distribution will be increased, and the treatment list under state and central health insurance schemes will be expanded.
With 4 per cent interest return on short-term working capital loans, fishing activities have been given parity with agriculture for credit assistance.
The Cabinet also endorsed amendments to the proposed Maharashtra Public Trust Ordinance, 2025 and approved posts for Punyashlok Ahilyadevi Holkar Government Medical College, Baramati.
–IANS