The construction of the high-tech oceanarium at Taraporewala Aquarium on Marine Drive may start in the next six months, and is expected to be completed in 18 months hence.

With only one bidder left in the fray, the government is set to finalise the deal in the next few weeks. The fifth-generation oceanarium will have an underwater tunnel, crawl caves, dolphins, penguins and big fish like sharks and sting rays on exhibit.

Of the four short-listed bidders, only Eden Inc Berhad, a Malaysian company, has submitted a technical and financial bid. The design proposed by the company, which is believed to be of international standards, will be evaluated by the international consultant appointed by the government, and if approved, the project may be finalised by the third week of March.

The project, estimated to cost Rs250 crore, is being undertaken on the Design Finance Build Operate and Transfer (DFBOT) basis, and the concession period is expected to be 30 years. “The estimated cost does not matter much as the bidder has to adhere to the submitted design, and maintain it for the stipulated period of time. The ownership period could be stretched to some extent, but the bidder has to get a minimum of 60 marks. Various components of the project have been allotted separate marks for evaluation,” said an official from the urban development department of the government.

While confirming the development, Ajay Saxena, officer on special duty, Maharashtra Urban Infrastructure Development Company Ltd (Muinfra), said that only one bidder being in the fray does not mean automatic awarding of the project. “The company has to fulfil the required criterion. Once approved by us, the project will be placed before the cabinet sub-committee led by chief minister Ashok Chavan through the agriculture and animal husbandry department,” he added.

The ‘must have’ facilities in the oceanarium, which will retain the name Taraporewala Aquarium, include a minimum of four types of large species with a minimum length of 1.5 meters, and 150 types of exotic species from international waters. Sharks and sting rays will be housed with at least 50 types of Indian species.

The bitter part is that ticket rates at the new oceanarium are expected to be much higher. “They may be close to Rs500 per person. However, we have made it compulsory to maintain the existing aquarium at the current ticket rates,” said an official.