Project News Detail

Project No :177284
Project Title :Bridge Project Expansion In Maharashtra
Company Name : Maharashtra State Road Development Corporation Limited
Project Detail :MSRDC has evaluated the finance bid for the Rs 775-crore Vashi bridge lane expansion project that includes construction of Thane creek bridge III. The board will be meeting to give its approval and award the contract to the lowest bidder

Mumbai’s infrastructure giants L&T and Tata Projects Ltd have made the finance bid. The project’s finance bid issue has been stuck since January and four bidders in the fray have sought extension thrice to submit their papers

The green clearance for the land parcels at both ends of the project has also reached the final stage. MSRDC has submitted its proposal for a land parcel of 1.24 hectares at Charkop to the Mumbai suburban collector to carry out compensatory mangrove afforestation

Besides, MSRDC is also in the process of finalising the matter of the Reserve Bank of India issuing bonds for Rs 325 to Rs 375 crore at 8 to 8.5% which will be purchased by banks and financial institutions for 15 years. The rest of the expenses will be funded through equity of Rs 200 crore by Cidco and Rs 200 to Rs 250 crore by MSRDC

“We will first make use of the equity fund in the project and then go for the bond issue in order to cut the cost of total funding. Why pay interest beforehand?” asked an MSRDC official

The project entails two separate corridors alongside the main Vashi bridge meant for heavy vehicles. One corridor of 3x3 Mumbai carriageway will be between Thane creek bridge II and Konkan railway bridge and the other again 3x3 between Thane creek bridge II and Thane creek bridge I (the old bridge). The corridors will be built 2.5 metres away from the main bridge

Project Location : Thane - Maharashtra - India
Project Industry :Bridges
Project Estimation :Refer Document
Status :Announced