In a bid to streamline the vehicular traffic in the area, Maharashtra State Road Development Corporation Limited (MSRDC) and Cidco, have jointly decided the doubling of the Vashi bridge or the Thane creek bridge lanes at an investment of Rs.800 crore. For carrying out the project, Cidco and MSRDC will each contribute Rs 200 crore equity in the SPV and another Rs.400 crore will be a debt component, Vice chairman and MD, MSRDC, Radheshyam Mopalwar said that once the request for proposal (RFP) finalized, the formation of the SPV would happen shortly thereafter. The period of construction has been pegged at 36 months. This means that the new lanes would be commissioned only in 2021. Delayed by six years with escalating cost, the project is relevant to the airport project of Cidco and NMIAL that will be commissioned for its maiden take off with an extended deadline of early 2020.
📅Published on:
12 January 2018
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