Days after it decided to scrap Reliance Infrastructure’s contract for building the Worli-Haji Ali sea link, the Maharashtra State Road Development Corporation (MSRDC) is now struggling to raise funds for the project. The cash-strapped agency has now sought the state government’s help to fund the project. This is not the first time the agency has turned to the state: in 2010, the government had turned down the MSRDC’s request for Rs 1,392 crore as viability gap funding for the project. It had also refused to provide a state support agreement for the same.
“We have sought the state government’s help in raising Rs 1,500 crore for undertaking the second phase of the Worli-Haji Ali sea link. We have asked for a state support agreement for raising the money, for which the state can get a 0.25% fee,” said a senior official who is involved with the project. Read more
Source : www.hindustantimes.com