Project cost for Versova-Bandra Sealink jumps by 60% to Rs 113.33 bn
ROADS & HIGHWAYS

Project cost for Versova-Bandra Sealink jumps by 60% to Rs 113.33 bn

Versova Bandra Sealink, the state government of Maharashtra's flagship project, now costs an astounding Rs 113.33 billion, up from Rs 69.93 billion in 2019. The project has made relatively little progress despite a massive cost overrun of over Rs 43 billion over the past four years. Many parties have contested the project's environmental clearance, which has caused legal tangles for the project. The Supreme Court has now been involved in the case.

The 17.7 kilometre long, Rs 70 billion project was supposed to be finished in 2023. The project's deadline has now been pushed back to December 2026 by the Maharashtra State Road Development Corporation (MSRDC), the project's nodal organisation. In 2019, Reliance Infrastructure Ltd. and the Italian company Astaldi formed a consortium to win the VBS project following a tendering process. L&T and ITD Cementation were L2 and L3, with costs of Rs 76 billion and Rs 73 billion respectively. Reliance-Astanali JV was the L1 with a project cost of Rs 69 billion.

Reliance Infra sold its interests to Astaldi in 2021, and APPCO, a business with headquarters in Uttar Pradesh, joined Astaldi as a new JV partner on the project. In February 2017, the Maharashtra State Road Development Corporation (MSRDC) received Environment Clearance (EC) from the State Environment Impact Assessment Authority (SEIAA). The NGT’s Western Bench rejected the plea in August 2022 after Juhu Moragaon Machhimar Vividh Karyakari Sahkari Sanstha (JMMVKSS), a fish workers society in Juhu, objected to the EC given to the sealink.

Following that, the case was brought before the High Court, which also dismissed the petition. Thereafter, a different petitioner submitted a comparable petition contesting the EC given to the project in the NGT. In opposition to the NGT taking up the same issue, which has already been resolved by the High Court and the NGT's Western Bench, the MSRDC has now filed a petition with the Supreme Court. The project’s cost has increased to Rs 113.33 billion as a result of the excessive delay, according to Solicitor General Tushar Mehta, who also mentioned the MSRDC’s request for an urgent hearing in the Supreme Court.

Versova Bandra Sealink, the state government of Maharashtra's flagship project, now costs an astounding Rs 113.33 billion, up from Rs 69.93 billion in 2019. The project has made relatively little progress despite a massive cost overrun of over Rs 43 billion over the past four years. Many parties have contested the project's environmental clearance, which has caused legal tangles for the project. The Supreme Court has now been involved in the case. The 17.7 kilometre long, Rs 70 billion project was supposed to be finished in 2023. The project's deadline has now been pushed back to December 2026 by the Maharashtra State Road Development Corporation (MSRDC), the project's nodal organisation. In 2019, Reliance Infrastructure Ltd. and the Italian company Astaldi formed a consortium to win the VBS project following a tendering process. L&T and ITD Cementation were L2 and L3, with costs of Rs 76 billion and Rs 73 billion respectively. Reliance-Astanali JV was the L1 with a project cost of Rs 69 billion. Reliance Infra sold its interests to Astaldi in 2021, and APPCO, a business with headquarters in Uttar Pradesh, joined Astaldi as a new JV partner on the project. In February 2017, the Maharashtra State Road Development Corporation (MSRDC) received Environment Clearance (EC) from the State Environment Impact Assessment Authority (SEIAA). The NGT’s Western Bench rejected the plea in August 2022 after Juhu Moragaon Machhimar Vividh Karyakari Sahkari Sanstha (JMMVKSS), a fish workers society in Juhu, objected to the EC given to the sealink. Following that, the case was brought before the High Court, which also dismissed the petition. Thereafter, a different petitioner submitted a comparable petition contesting the EC given to the project in the NGT. In opposition to the NGT taking up the same issue, which has already been resolved by the High Court and the NGT's Western Bench, the MSRDC has now filed a petition with the Supreme Court. The project’s cost has increased to Rs 113.33 billion as a result of the excessive delay, according to Solicitor General Tushar Mehta, who also mentioned the MSRDC’s request for an urgent hearing in the Supreme Court.

Next Story
Building Material

JK Cement emerges successful bidder for Mahan coal mine in Madhya Pradesh

This marks the company’s second commercial coal block win, following its acquisition of the West of Shahdol (South) coal block. "The company is committed to becoming self-reliant for its existing cement plants and upcoming projects," JKC stated. The surplus coal from the mine will be sold commercially. The vesting order was handed over to JK Cement during a ceremony at Shastri Bhawan, New Delhi, a critical milestone for commencing mining operations within the stipulated timeline...

Next Story
Building Material

Prism Johnson's cement division goes live with Ramco ERP Suite

Prism Johnson has successfully gone live with the Ramco ERP Suite for its Cement Division. This milestone marks a significant step in Prism Johnson's digital transformation journey, leveraging Ramco Systems' advanced enterprise solutions and process control systems to streamline business processes, manufacturing operations and drive efficiency. The implementation includes cutting-edge modules for Maintenance, Sales, Distribution, Finance, Procurement, Manufacturing, Quality, and HR Management (HRM). These solutions enable Prism Johnson to achieve seamless integration across its business and wo..

Next Story
Infrastructure Urban

Indian shadow bank Shriram Finance gets record $1.28 billion loan

Shriram Finance Ltd. is reported to have borrowed $1.28 billion in a multi-currency social loan, marking the largest offshore facility ever undertaken by an Indian shadow lender. According to a press release issued by Shriram, the deal is divided across the dollar, euro, and dirham. Sources familiar with the transaction, who wished to remain anonymous, indicated that the tenors in the multi-tranche deal range from three to five years. This loan adds to the surge of offshore debt sales by Indian shadow lenders this year, a trend prompted by the Reserve Bank of India's tightening of rules in Nov..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000