In a step ahead to the ambitious Mumbai Trans Harbour Link (MTHL) project that will connect Sewri in Mumbai to Nhava on mainland, it is likely to get funding from the Japanese International Co-operation Agency (JICA).
The Japanese firm is likely to fund up to 80 per cent of the cost of the project or Rs 8,800 crore as loan, a release issued by the Mumbai Metropolitan Region Development Authority (MMRDA) said.
"A team of JICA experts recently met us and it has given favorable indications about funding the MTHL project. Out of the total cost of around Rs 11,000 crore, the agency is likely to provide us loan to the tune of 80 per cent, which is nearly Rs 8,800 crore," Metropolitan Commissioner U P S Madan said.
The Japanese team also did a preliminary survey of the end points of the 22-km long link, he said.
"The agency officials will now work on several aspects of the project in complete detail. Post their analysis, they also provide us with inputs which can enhance the constructibility and shorten the construction period of the project. Given their experience in the construction of such long sea bridges, we are looking forward to their suggestions," he added.
The Japanese experts will submit their analysis in a few months, Madan said.
He further said since the project will now to be constructed on engineering, procurement and construction basis, the Authority expects large scale EPC firms, both domestic and international, will show interest in the project.
