Saturday, June 21, 2008

Government considering various options to start Mumbai trans-harbour link

After Reliance Infrastructure failed to extend the validity of bids for the sea link project between Sewri and Nhava-Sheva, the Maharashtra government is now considering various options like forming an SPV with financial support from the state-run institutions, to go ahead with the project. The state government may form SPV with funding from City & Industrial Development Corporation, Mumbai Metropolitan Region Development Authority and probably a Japanese bank.

The project will be awarded to Maharashtra State road Development Corporation. The government is also likely to consider the options like inviting fresh bids, close bidding or re-bidding from qualifiers in the final round of bidding - Relaince Infrastructure and Sea King Infrastructure.

Reliance Energy Now Reliance Infrastructure had bagged Mumbai Trans Harbour Link project. Financial bids were opened today for the 25 kilometer six-lane project of Maharashtra State Road Development Corporation (MSRDC). The company has quoted a concession period of 9 years, 11 months, as compared to 75 years quoted by the only other bidder, a consortium led by IL& FS.