JNPT to pick up stake in Mumbai Trans Harbour Link.

In an effort to fast track the 22-km Mumbai Trans Harbour Link (MTHL), the Maharashtra Government has decided to bring in equity participation from Jawaharlal Nehru Port Trust. The ambitious project costing Rs. 11,000 crore will connect, Central Mumbai with Raigad district.

A senior officer of the Maharashtra Government told Business Line that the port authorities have agreed to pick up a stake in the Rs. 11,000 crore project. The Mumbai Metropolitan Region Development Authority along with the City and Industrial Development Corporation of Maharashtra Ltd. will be the other stakeholders.

The equity component in the project will be at 30 per cent, which would be provided by the three public bodies.

The debt component of 70 per cent will be bank rolled by Japan International Cooperation Agency, the officer said.

The officer added that initially the Maharashtra Government has plans to develop the project on a public-private partnership basis. But the response from infrastructure companies was very poor therefore the State government has decided to build the project on a cash-contract basis. The money spent on the project would be recovered through toll.


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