Mumbai Trans-harbor Sea Link gets investors from UK and Germany

As India is intensifying in terms of economy, infrastructure and IT, neighboring countries are looking forward to invest in Mumbai, the financial capital of the nation. As per a report published in The Economic Times, four countries are eying the multi-crore Mumbai Trans-harbor Sea Link from Mumbai to Navi Mumbai.

The Maharashtra government had been struggling to seek funds for the 22-km sea link and had approached Japan International Co-operation Agency (JICA) initially. Meanwhile, the Chinese government too showed interest in the project in May, when Chief Minsiter Devendra Fadnavis visited China.

As per the state government officials’ inputs to ET, apart from Japan and China, UK and Germany too are in contact with the Fadnavis government for the project.

After many such offers in his kitty, what Devendra Fadnavis has to think of is the best deal as all the countries are up with their own terms and conditions. For instance, UK has put-up a condition that 20% of the project work should be given to firms in the UK while 30% could go to Indian firms. The rest 50% could be given to other firms abroad. Germany, on the other hand wants 50% of the project work to go to firms in its country, 30% to Indian firms and the rest to other firms abroad.

China, to the contrary, has not laid down any conditions so far, but there have been reports that the Chinese are expecting the entire project under their command. As per a state government official, the Chinese government wants the entire project work, including the sub contracts, to be assigned to the firms in its country alone.

With so many offers, what the Maharashtrta government is looking forward to, USP Madan, commissioner of Mumbai Metropolitan Region Development Authority (MMRDA), informed that no decision has been taken so far on who would be given the project.