Cabinet to discuss bids for Sewri-Nhava sea link project

MUMBAI: The state cabinet committee for infrastructure will meet on June 12 to discuss the bids received for the Sewri-Nhava sea link project.

"The committee will meet on June 12 where we will evaluate the bids received," Chief Secretary Johny Joseph told reporters on Friday on the sidelines of a visit to assess preparations for monsoon in the city.

The consortium led by Anil Ambani's Reliance Energy Ltd (REL) had quoted a concessional period of almost ten years while Mukesh Ambani's Sky Infrastructure has sought a concession period of 75 years before the bridge is handed over to the government.

After a pitched legal battle REL, which was initially not allowed to participate in technical bidding for the project, was allowed to submit their proposal. After the financial bidding, the project was awarded to the REL.

The government decided to re-evaluate the bids after both bids were found to be unrealistic, sources said.

It is also being considered to ask REL to stick to a concessional period of 40 years and submit a deposit of Rs 500 crore to the government, they said.

The sea link connecting the city to Nhava in Raigad district will be built at an estimated cost of Rs 5,000 crore and the private builder could recover costs through toll collected during the concessional period.