MSRDC, ADAG ink Worli-Haji Ali sea link -Governance Now

MSRDC, ADAG ink Worli-Haji Ali sea link

MSRDC will pay Rs 1,634 crore for the operation and maintenance of the already functional Bandra-Worli sea-link

PTI | June 29, 2010

Anil Dhirubhai Ambani Group firm, Reliance Infrastructure, today signed an agreement with Maharashtra State Road Development Corporation (MSRDC) to construct the 3.3-kilometre Worli-Haji Ali Sea Link.

It also involves paying MSRDC Rs 1,634-crore for the operation and maintenance of the already functional Bandra-Worli Sea Link.

Reliance Infrastructure will spend Rs 3,446-crore for construction of the link which is the second phase of the western freeway sealink project and expects to achieve financial closure in six-months time, its Chief Executive Officer, Lalit Jalan, told reporters.

The concession period for the project is 40-years.

Work on the project -- which Reliance Infra is undertaking with its partner Hyundai -- will commence in December and is expected to be completed by June 2014.

With this project, Reliance Infrastructure's total projects in Mumbai crosses Rs 20,000-crore, Jalan said. Among other projects the firm is undertaking is the Metro rail.

Both the links are a part of the Western Freeway Sea Link project which is aimed at reducing travel time from north-western suburbs to city. The other two envisaged links are Versova-Bandra in the north and Haji Ali-Nariman Point towards the South.

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