November 22, 2008

Bids for Mumbai Trans Harbor Link to be finalized by mid June

BL reported that Maharashtra government is likely to finalize bids for the INR 6,000 crore, six lane Mumbai Trans Harbor Link between Sewri and Nhava Sheva by mid June 2008.

As per report, Maharashtra State Road Development Corporation, which is a nodal agency for the project, is considering the option of asking the consortium of Reliance Energy and Hyundai to pay a surety of INR 5,000 crore.

The state government is reconsidering the consortium's bid on grounds that it had quoted a concession period that was too low and unrealistic. The consortium had quoted a concession period of 9 years and 11 months and was declared the preferred bidder by the state government in February 2008.