The Maharashtra State Road Development Corporation's (MSRDC) Rs.1,200 crore Worli-Haji Ali sea link project has received only two bids on 03 February 2009. The two bidders are - Hindustan Construction Company (HCC) and a consortium consisting of Reliance Infrastructure and Hyundai Constructions.

Reliance Infra-Hyundai consortium has quoted a viability gap funding (VGF) of Rs.1,392 crore while HCC has quoted Rs.2,466 crore. The HCC is building the first phase of the project linking Bandra to Worli.

The MSRDC has fixed a concession period of 40 years. Both the bidders' estimates go beyond 40 years. The bids will be evaluated by Arup CES and Ernst & Young and the report from the consultants is expected within a month. MSRDC will issue work orders within six months of receiving the report from the consultants.

The winning bidder will also have to buy out the Bandra Worli Sea Link being constructed by HCC, by making an upfront payment of Rs.1,634 crore to the HCC. It will then own both the bridges for the next 30 years and recover their construction cost through tolling. The Bandra-Worli Sea Link will be owned by the new bidder for 30 years, while the planned Worli-Haji Ali link will be owned for either 40 years or whatever period is agreed to between the successful bidder and the state government.

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