IRB withdraws from Mumbai Trans Harbour Link Project

August 5, 2013

By ET Bureau |

Maharashtra’s ambitious Rs.9630 crore Mumbai Trans Harbour Link (MTHL) project will have one less bidder as IRB infrastructure developers’ ltd has decided to withdraw from the bidding process. IRB has written a letter to the MMRDA and the Chief Minister of Maharashtra saying they have decided to withdraw from the MTHL project because of bad experience on some other infrastructure projects in the state.In the letter Virendra Mhaiskar Chairman IRB has said, “We deeply regret to inform you that we are unable to participate in the bidding process of the project and the reasons are beyond the boundaries of this project. Unfortunately the experience that we have had in one of the infrastructure projects in Maharashtra in the city of Kolhapur has shattered our confidence to invest in the urban infrastructure projects especially in the state of Maharashtra.”

The central government has sanctioned the Viability Gap Funding (VGF) of Rs.1920 crore for the Rs.9630 crore MTHL which will connect South Mumbai to Navi Mumbai directly. Many Indian and international companies participated in the pre-qualification bids for the MTHL. The Mumbai Metropolitan Region Development Authority (MMRDA) had shortlisted 5 consortia M/s. CINTRA – SOMA -SREI, M/s. Gammon-OHL Concessions-G.S. Engineering, M/s. GMR-L & T Ltd-Samsung, M/s.IRB-Hyundai and M/s.Tata Realty and Infrastructure Limited-Autostrade-Vinci Concessions.

The MTHL is expected to carry more than 62,000 passenger car units in the year 2019 and an annual growth of about 5% is estimated. MMRDA has also undertaken a few additional corridors to facilitate the anticipated traffic dispersal.

Source-http://economictimes.indiatimes.com/

Written by ITW Editor · Filed Under IRB Infra, Projects

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