Reliance Infrastructure (R-Infra) will continue with its proposed 7.2-km sea link between Worli and Haji Ali in Mumbai, even as the Maharashtra government plans to explore a coastal road instead, as it would be much cheaper. The company is going ahead as per the provisions of the concessional agreement. The agreement has been executed between the Maharashtra State Road Development Corporation (MSRDC) and the special purpose vehicle floated by R-Infra — Reliance Sea Link One Pvt Ltd. This is a contractual agreement binding both the government and the company for their respective responsibilities and obligations.
MSRDC, a nodal agency for the project, is currently scrutinising the financing documents submitted by R-Infra for the takeover of the existing Bandra-Worli sea link and the construction of the Worli-Haji Ali project. The state government has sought an approval from the Ministry of Environment and Forests (MoEF) on its proposal for the coastal road. The government is exploring the option, especially in the wake of a change in the coastal zone regulation (CRZ) notification since this January.
The Rs 5,100-crore project was awarded by MSRDC in February 2010. Of the total project cost, Rs 1,634 crore is for one-time upfront payments to the state government to take over the existing Bandra-Worli sea link and construct the 7.2-km new link. According to the concession agreement, R-Infra will have to build the new stretch in 42 months.
| Company Name | CMP |
|---|---|
| NTPC | 333.30 |
| Tata Power | 401.25 |
| Power Grid Corp | 315.75 |
| Adani Power | 498.45 |
| Torrent Power | 1476.80 |
| View more.. | |
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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