The successful structuring of the Mattanchery bridge project connecting Mattanchery and the Wellington island, is expected to go a long way in ploughing funds from the private sector to a slew of infrastructure projects lined up by the Kerala government and other local bodies.

K Balachandran, chairman, Greater Cochin Development Authority (GCDA) told The Financial Express here that the representatives of the state government, GCDA and the company will ink the final agreement for the commencement of the project on Wednesday.

Gammon India Ltd is likely to commence work on the project by November.

Under the original agreement, the company needs to commence the work only after signing the agreement.

GCDA in August this year issued the letter of acceptance to the Mumbai-based Gammon India Ltd for developing the Mattanchery bridge project on a BOT basis.

According to the LoC, Gammon India Ltd will construct and operate the bridge for a period of 13 years and nine months. After the expiry of the operating period the private sector developer will return the bridge to GCDA, the nodal agency of the project, the GCDA chairman has said.

The Rs 30-crore venture will be the first toll-based bridge project to be developed by the private sector in the state.