Trans harbour link bids by mid-May

The 22-km sea bridge,which will connect Sewri and Nhava,will be a six-lane road and would also have two Metro rail corridors according to the MMRDA plan. The project is estimated to cost Rs 8,311 crore.

“The project will be implemented on a public-private partnership (PPP) basis,and it would be implemented in two phases. During the first phase of the project,the Authority will complete foundation work and the structure for three lanes of road and provision for one lane of Metro rail. The construction of super structure of the remaining three lanes of road and one lane of Metro rail will begin immediately on completion of the first phase,” the official said.

Tthe construction of the first phase,the official said,is expected to begin in October 2011 and completed by September 2015; the second phase is expected to begin in October 2015 and completed by September 2017. The first phase of the project would consume Rs 6,084 crore and the second phase would cost Rs 2,227 crore.

As per the financial model worked out by the MMRDA,the Authority will provide up to 10 per cent of the cost as Viability Gap Funding (VGF) while the union governemnt will provide 20 per cent VGF. The MMRDA will also provide additional 20 per cent soft loan to the private player that successfully clears the bidding process. The successful bidder will bring in the remaining 50 per cent of the project cost with a concession period of 45 years.

The project has been on the drawing board since four decades now. The MSRDC,which was handling the project since inception,was not favoured to execute the project considering its weak financial condition,senior state government officials said.

Minister Public Works Department (Public Undertakings) Jaydutta Kshirsagar declined to comment on the state government’s decision to take away the project from his department.