The successful bidder will get rights to collect toll on both the sea links for next thirty years. The MSRDC is expected to incur a cost of Rs 1,640 crore (Rs 16.4 billion) on the Bandra-Worli sea link.
Nearly 78 per cent of the work of the project has been completed, Deshmukh said, adding the sea link would reduce the travel time between Bandra and Worli from present 60-75 minutes to 7 minutes when it opens up for public by January next year.
At present around 140,000 vehicles pass through bridge on the Mahim creek everyday, which is the only road link between the island city and its western suburbs. Once sea link is open for traffic, it will attract at least 80 per cent of the traffic from the Mahim creek.
The Bandra-Worli sea link, which was suppose to become operational by 2004, got delayed as project got entangled in litigation over environmental issues and resistance from local fishermen community.
Image: The second phase is from Worli to Nariman Point | Photograph: Sebastian D'souza/AFP/Getty Images
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