A statement released by the Chief Minister's Office said the additional share capital will reduce the debt burden of the project by Rs 2,500 crore.
It will also remove the need to provide a guarantee for a loan of Rs 16,500 crore.
The cabinet also approved changes in the financial plan of the project.
The revised cost of the project is Rs 55,335 crore, and a loan of Rs 24,500 crore was approved for the special purpose vehicle Nagpur Mumbai Super Communication Expressway.
The cabinet also decided to waive stamp duty on MoUs between various agencies involved in the project.
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