Reliance Infra-led venture to build Versova-Bandra Sea Link

Mumbai: The consortium of Reliance Infrastructure and Astaldi S.p.A of Italy have successfully bid to construct the 17.17-km Versova-Bandra Sea Link (VBSL) for ₹6,993.99 crore, beating those made by L&T-Samsung JV and Hyundai Development Company-ITD JV. The tender was floated by Maharashtra State Road Development Corporation (MSRDC).

The bid amount is higher than estimate of ₹6,426 crore made by Louis Berger, who were appointed in January as consultants. “The proposed cost was increased to a little over ₹7,000 crore due to a steep rise in steel prices, and the interest to be paid on the mobilisation of the advance amount (5%, or ₹350 crore),” a senior MSRDC official said.

The VBSL is thrice as long as the 5.6-km Bandra-Worli Sea Link, and will run from Bandra Reclamation to Nana-Nani Park in Versova. It will connect to Carter Road and Juhu Koliwada. Close to 40,740 vehicles are expected to use the VBSL in 2023, mostly cars, and commuters may have to pay ₹250 for the entire stretch. Officials said construction will start after the monsoon, and is expected to be completed by 2023. Toll will be charged till 2052, according to initial projections.

The MSRDC will be providing around five hectares in Juhu Koliwada for a casting yard. The official said clearances for the land should come in a few months, and Reliance Infrastructure is also looking for more sites along the coast. “We will give them the option to take the land. It is up to them to decide whether they want to take it or not.”

The VBSL is part of the Coastal Road project. The BMC is executing the south end of the project, which will connect Princess Street, Marine Lines to the Bandra Worli Sea Link.

BMC had made a provision of ₹1,500 crore in its current budget, and the tendering process is on.