The Mumbai Metropolitan Region Development Authority (MMRDA) on Friday said that it has opened the financial bids for the third package of construction for 22-km-long Mumbai Trans Harbour Link (MTHL). Larsen & Toubro was found to be the lowest bidder for the third package of MTHL after quoting 22.45% below the estimated Rs 1,300 crore.
Earlier, on Thursday MMRDA had opened financial bids for the remaining two packages wherein the bidders had quoted about 15 per cent more than the estimated of Rs 11,500 crore.
“Financial bid for third package of MTHL was opened today in which L&T is the lowest with 22.45 per cent below,” UPS Madan, Metropolitan Commissioner, MMRDA, told DNA on Friday.
The MMRDA had estimated Rs 12,800 crore for the civil construction out of the total cost of Rs 17,800 crore for the project. However, bidders for two out of the total three packages, in which the project was divided, have quoted 15 per cent more than the estimations, and for the third package L&T has quoted, below the estimated.
Further, two joint ventures namely L&T with IHI Japan, and Tata Projects with Daewoo Korea for the first two packages, and L&T in the third package have been shortlisted for the construction of MTHL.
The Japanese International Cooperation Agency (JICA) is funding almost 85 per cent of the project cost of MTHL. Due to this, JICA's no objection certificate (NOC) would be required considering it is funding the project.
Ever since MTHL was proposed back in 1980's the project cost has increased more than 350%. In 2005, the cost was estimated at Rs 4,000 crore and the same was estimated to be Rs 17,800 crore in 2016. But now after the quotations being higher than estimations, the construction cost might reach upto Rs 20,000 crore.
MMRDA had in January 2017, announced that it had short listed in all 29 contractors for the 3 packages of the 22-km long MTHL project. This includes seven contractors each for the first two packages and 15 for the third package.
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