The cash strapped MSRDC is hoping Cidco will help it fund the 1.8-km six-lane bridge on the Vashi creek that it plans to build to circumvent traffic expected to be caused by the widening of the Sion-Panvel highway.
The existing 6-lane Sion Panvel highway, which connects the city to Navi Mumbai and subsequently to Pune and Goa highways, is being widened into 10-lane highway. However, the widening along the 23 km stretch would create major traffic problems on the Vashi Creek bridge, forcing the Maharashtra State Road Development Corporation to consider building another one.
The new bridge is planned under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) at an estimated cost of Rs600 crore. Of this, 35% is to be borne by the Centre and 15% by the state.
It is the remaining 50% that the MSRDC is having a hard time arranging funds for.
The MSRDC had earlier asked Mumbai Metropolitan Region Development Authority (MMRDA) for the funds. However, the planning authority refused. fearing
Now, the MSRDC has approached the City and Industrial Development Corporation of Maharashtra Ltd. (Cidco) to put in 25% of project cost.
"Two bridges of three lanes each will be built on the either side of the existing 6-lane bridge. Cidco has expressed its readiness," said SR Nandargikar, chief engineer, MSRDC.
However, Cidco officials said they would take a decision on funding to the project after the issue is discussed in a board meeting. Keshav Warkhedkar, chief engineer, Cidco, said "We have received a proposal from the MSRDC. However, we will only be able to take a decision on the funding after a meeting with the board of directors."