A bunch of strategic investors including Adani Enterprises, IRB Infrastructure and Cube Highways are likely to bid for toll rights of Rajiv Gandhi Sea Link Bridge, popularly known as Bandra-Worli Sea Link.
The Maharashtra State Road Development Corporation (MSRDC) has invited bids for the new operator for the most expensive toll road within Mumbai city as MSRDC’s contract with the previous concessionaire, MEP Infrastructure Developers, expired on 30 January 2020. MEP Infrastructure Developers and other operators, such as PNC Infratech and Sahakar Global, are also keen to submit the bids for toll operation, which will be offered for 19 years, till March 2039. SBI Capital is running the mandate for MSRDC.
The contract carries an expected bid value of Rs 2,940 crore (about USD 411 million). However, MSRDC, which has called for bids with a deadline of 12 May 2020, is likely to extend the date in the wake of the lockdown. But the prospective bidders are already preparing themselves for the coveted contract.
As per the original plan, MSRDC was expected to complete the process by the end of Q1/FY21. However, this could be extended to September 2020 considering the lockdown. MSRDC may extend the deadline for bids, the value of which is estimated at Rs 2,940 crore.