MSRDC to begin valuation of its assets; BWSL to be insured soon
Mumbai-Pune Expressway and corporation’s flyovers across state among projects to be valuated
sets include city roads, bridges and flyovers owned by the MSRDC across the state, and bypass roads. Valuation will also be done for the corporation’s rail overbridges, subways, toll collection systems, residential and commercial premises, computers and other furniture and fixtures.
Once covered by insurance, the MSRDC can make claims for the damages that may occur to both projects due to unavoidable circumstances such as a natural dis- aster or terrorist attack.
The insuring of infrastructure projects is not new and has been a practice for a long time. Insurance also provides cover against thirdparty liability risks. However, currently, none of the projects of MSRDC — including the state’s toll collection booths and flyovers — are covered by insurance.
An official from MSRDC, on the condition of anonymity, said, “The fact that none of our iconic infrastructures are covered by insurance is partly because of the corporation’s financial condition. As of today, our outstanding debt would be somewhere around Rs 4,000 crore.”
The official added, “Many are questioning why we are going for insurance now, considering the financial condition is not good. It is only because the top political and bureaucratic authorities are afraid of facing flak. The development also comes in the backdrop of the state government sending managing director Radheshyam Mopalwar on forced leave after opposition parties alleged financial irregularities.”