Nagpur: Maharashtra Cabinet Approves ‘New Nagpur’ Project with International Business & Finance Cente
Nagpur: The Maharashtra state government, in its cabinet meeting held on Monday, approved the development of an International Business and Finance Center (IBFC) under the proposed ‘New Nagpur’ project by the Nagpur Metropolitan Region Development Authority (NMRDA).
Alongside the IBFC, the cabinet also gave the green signal for the construction of an outer ring road around Nagpur city, along with four traffic islands (truck and bus terminals) connected to it.
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Under the IBFC project, the NMRDA will acquire approximately 692.06 hectares of land in Godhani and Ladgaon villages of Hingna tehsil, Nagpur district. The area will be developed into a hub of economic activity, positioning Nagpur as a major player in trade and finance.
The outer ring road and adjoining transport terminals are expected to significantly improve the city’s traffic flow, reduce the burden of heavy vehicles within city limits, and streamline regional connectivity.
Officials said that land acquisition and other formalities will begin soon, paving the way for rapid urban and industrial development. The project is being seen as a key step in transforming Nagpur into a prominent economic hub at both national and international levels, while simultaneously addressing the city’s long-standing traffic challenges.
