The MMRDA is considering four options for constructing the Mumbai Trans-Harbour Link (MTHL) after the latest round of bidding failed to elicit interest from construction firms.
The 22-km sea link between Nhava and Sewri that will connect Mumbai to the hinterland and offer a quick getaway to Pune, Nashik and Goa.
Senior MMRDA officials said within a month the proposals will be placed before chief minister Prithviraj Chavan, who also heads MMRDA.
The project was proposed in the 70s. However, the first serious attempt to build the bridge was made in 2008 but it fell through because of a dispute between the Ambani brothers. The project was to be developed on a build-operate-transfer basis in which the developer was to quote a price with interest, which he would recover in 35 years after building the link over five years. To address some of its financial risks, the Union finance ministry has sanctioned viability-gap funding to the tune of Rs 1,920 crore for the project.
A source said one of the reasons that no bid was made for the project was the uncertainty over the proposed international airport in Panvel. “If the airport does not take off then the project will become unviable,” said a source.
OPTIONS BEFORE PLANNERS
In a direct cash contract, the government foots the bill for the sea bridge
The developer constructs the link and is paid back in annual installments
The project is taken up under Jawaharlal Nehru National Urban Renewal Mission. The Centre, state government and implementing agency (MMRDA) bear 35%, 15% and 50% of cost
The state govt approaches either the World Bank or the Japan International Cooperation Agency for a loan
The 22-km sea link between Nhava and Sewri that will connect Mumbai to the hinterland and offer a quick getaway to Pune, Nashik and Goa.
Senior MMRDA officials said within a month the proposals will be placed before chief minister Prithviraj Chavan, who also heads MMRDA.
The project was proposed in the 70s. However, the first serious attempt to build the bridge was made in 2008 but it fell through because of a dispute between the Ambani brothers. The project was to be developed on a build-operate-transfer basis in which the developer was to quote a price with interest, which he would recover in 35 years after building the link over five years. To address some of its financial risks, the Union finance ministry has sanctioned viability-gap funding to the tune of Rs 1,920 crore for the project.
A source said one of the reasons that no bid was made for the project was the uncertainty over the proposed international airport in Panvel. “If the airport does not take off then the project will become unviable,” said a source.
OPTIONS BEFORE PLANNERS
In a direct cash contract, the government foots the bill for the sea bridge
The developer constructs the link and is paid back in annual installments
The project is taken up under Jawaharlal Nehru National Urban Renewal Mission. The Centre, state government and implementing agency (MMRDA) bear 35%, 15% and 50% of cost
The state govt approaches either the World Bank or the Japan International Cooperation Agency for a loan
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