Mumbai: A private firm, which has secured the Mumbai-Pune Expressway toll recovery contract, on Thursday handed over a cheque of Rs 6,500 crore to the Maharashtra State Road Development Corporation (MSRDC) as its first instalment for the rights.
Maharashtra Deputy Chief Minister Ajit Pawar accepted the cheque from the firm at the state secretariat here, while Chief Minister Uddhav Thackeray took part in the ceremony via video-conference, an official statement said.
Urban Development Minister Eknath Shinde and Chief Secretary Ajoy Mehta, too, were present with Pawar.
As per the contract, IRB Infrastructure Developers will have to pay Rs 8,262 crore to the MSRDC for the rights of collecting the toll, which includes the upfront payment of Rs 6,500 crore.
It will have to further make staggered payments of Rs 850 crore each in second and third years and Rs 62 crore in the fourth year, the statement said.
The company has received a letter of acceptance (LoA) from the MSRDC for a period of 10 years and two months.