China, Japan among four nations ready to invest in Mumbai sea link project

Source: Economic Times

A cash strapped Maharashtra government which was struggling to seek investment to execute the Rs. 11,000 crore 22 Km Mumbai Trans-harbour Sea Link from Mumbai to Navi Mumbai has suddenly received a shot in the arm as it has now four countries vying to finance and build the project. While Maharashtra had initially approached Japan International Co-operation Agency (JICA), the Chinese government also evinced interest in financing the project when Chief Minister Devendra Fadnavis visited China in May. State government officials have now told ET that besides Japan and China, UK and Germany are also in touch with the Fadnavis government expressing their willingness to finance the project.

However, all the countries have put forth certain conditions. The UK for instance has put forth a condition that 20 per cent of the project work should be given to firms in the UK, 30 per cent could go to Indian firms and the rest 50 per cent could be given to other firms abroad. Germany on the other hand wants 50 per cent of the project work to go to firms in its country, 30 per cent to Indian firms and the rest to other firms abroad.

Interestingly China has not forth any condition. However, a top state government official said the Chinese are expecting that the entire project work involving the sub contracts should be given to firms from China alone.

UPS Madan, Mumbai Metropolitan Region Development Authority( MMRDA) Commissioner who is executing the project confirmed that four countries have shown interest in the project but said that no decision has been taken on who would be given the project.

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