Centre sanctions Rs 1920 cr VGF for Trans Harbour Link Project
MUMBAI: The Finance Ministry today sanctioned a viability gap funding (VGF) of Rs 1,920 crore for the ambitious Mumbai Trans Harbour Link project of the Mumbai Metropolitan Region Development Authority (MMRDA).
"The crucial decision has paved way for the bidding process of the project that connects Sewri in the island city to Nhava in Navi Mumbai. This link will not only offer easy and faster connectivity to the city, but also save time and fuel," MMRDA said in a statement.
The project with an estimated cost of Rs 9,630 crore will be implemented on a public-private partnership basis and is likely to be completed in about five years.
The Authority expects the work on the project to start by end of 2013.
MMRDA has already completed the pre-qualification process and shortlisted five consortia, namely, Cintra-SOMA-Srei, Gammon Infrastructure Projects-OHL Concessions-GS Engineering, GMR Infrastructure-L&T-Samsung C&T Corpn, IRB Infrastructure Developers-Hyundai consortium, and Tata Realty-Autostrade Indian Infrastructure Development-Vinci Concessions Development consortium, to develop the project.
The concession period for the project would be 35 years instead of 45 years as originally proposed by MMRDA, or 30 years that the union finance ministry was insisting on.
Meanwhile, MMRDA has also undertaken a few additional corridors, including 17 km Eastern Freeway (Orange Gate to Ghatkopar-Mankhurd Link Road) and 4.25 km Sewri-Worli elevated connector (Sewri Railway station to Dr Annie Besant Road) to ensure faster connectivity and decongestioning Mumbai.
"The freeway is expected to be completed by May, while a detailed project report for the elevated connector is nearing completion. Along with this, MMRDA is also conducting a feasibility study for a third connector -- Chirle- NH17-Mumba-Pune Expressway," the release said.
Centre sanctions Rs 1920 cr VGF for Trans Harbour Link Project - The Economic Times
