Reliance Infrastructure has signed a contract with MSRDC ( Maharashtra State Road Development Corporation to develop the second phase of the sea link project that links the central business district of Worli with Haji Ali and shall be commissioned by June 2014.
The company shall borrow Rs. 2600 crore for developing the Worli to Haji Ali part, the second phase of the project which is a 3.3 kms long bridge.The Bandra to Worli part is the first phase and is already operational.
The total cost of the project is about Rs 5,100 crore including both phases of the sea link. The first phase shall be bought over by Reliance Infrastructure and will have to pay this amount to the government.
The contract gives the company, the right to collect tolls. This is a joint venture of reliance Infrastructure with Hundai Engineering which would start the work early, next year.