Will the three-decade-old dream of the 22km Sewri-Nhava sea bridge, a shortest possible link to connect Mumbai with Navi Mumbai and the Pune, Nashik and Goa highways, be ready in the next four years?
In a significant development, the Japanese International Cooperation Agency (JICA) on Wednesday gave an assurance to complete the Sewri-Nhava Mumbai TransHarbour Link (MTHL) project by 2019 by offering a loan at 2% interest rate for 30 years.
Chief minister Devendra Fadnavis said that a JICA delegation, led by consul general of Japan Yoshiaki Ito, called on him and assured to complete all formalities regarding the deal by October 2015.
Even Chinese firms and British agencies have evinced interest for participation in the bidding competition.
Later Fadnavis tweeted: “Glad that JICA has shown keen interest in mthl through technical and financial support and through a long term low cost loan in just short span of time. Had a great meeting with CG of Japan Yoshiaki Ito, JICA director Kotaro Tanaka and JETRO director general Takehiko Furukawa.“
The JICA had agreed to provide a loan to cover up to 80% of the project cost, but was conducting its own study prior to reaching any agreement.
The MTHL, which is estimated to cost Rs 11,000 crore, is to be executed under the cash contract or engineering, procurement and construction method, with Rs 8,800 crore expected from JICA.
JICA is likely to assist MMRDA in gaining inputs about the construction methodology to be adopted. The Centre has already approved 20% of the project cost as viability gap funding.
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