The Hindu Business Line : New funding model for Mumbai harbour link project

Mumbai, Nov. 12 The Mumbai Metropolitan Region Development Authority is considering a viability gap funding model for the Rs 10,000-crore Mumbai Trans Harbour Link project.

Mr Ratnakar Gaikwad, Commissioner of MMRDA, told Business Line that as public-private partnerships and cash contract models had drawn a blank with developers, the new model of providing up to 40 per cent of the total project cost as one-time viability gap funding would be considered. The Centre will soon take a final call on the matter.

The 22-km MTHL is proposed to be developed as a six-lane dual carriageway road and rail bridge connecting Sewri on the Mumbai side to Nhava on Navi Mumbai. The main bridge will have a six-lane road from Sewri to Nhava including an approach road at the Sewri end and interchange at national highway 4B near Chirle village.

Mr Gaikwad said that MMDRA would soon invite tenders for the Rs 12,000-crore Colaba-Bandra underground metro.

A proposal was sent to the Centre seeking approval for a financial model similar to the Delhi Metro Airport Express Link.

Here, a State Government body creates the civil works while a private developer invests in the procurement of rolling stock, signalling and other equipment required for operations of the line, he said.

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