The state cabinet infrastructure committee on Tuesday approved the contract of collecting toll at the city’s five entry points to Mumbai Entry Point Limited (MEPL), owned by the Mhaiskar group of the IRB infrastructure limited.
The amount of Rs 2,100 crore will be paid by the company in three instalments.
The first instalment will be of Rs 1,710 crore and the rest will be paid in two equal instalments.
There was controversy over the award since the tender condition had stipulated the fixed amount of Rs 2,100 crore but it was decided on who quoted the least number of months.
While MEPL quoted 17 years and one month, others were ready for just 10 years but were disqualified on technical grounds.
However, state government has said that the final decision would be taken only after consulting the Advocate General of the state.