Twelve companies out of eighteen have emerged as the lowest bidders for the construction of 13 packages of the proposed 700-km Nagpur-Mumbai super communication expressway (NMSCE) worth Rs 46,000 crore . The nodal agency for the project, Maharashtra State Road Development Corporation (MSRDC), on Thursday, announced the names of the the lowest bidders. The companies are Megha Engineering, AFCONS, NCC, PNC Infratech, Sadbhav Engineering, APCO, Reliance Infrastructure, Monte Carlo, L&T, Gayatri Projects, Dilip Buildcon and BSCPL. Of these, Megha Engineering was the lowest bidder for packages one and nine while others were the lowest bidders for one package each. Radheshyam Mopalwar, VC and MD, MSRDC, said the corporation will start evaluating the bids immediately.
He said, “After completion of the due diligence in next few days, we may issue work orders.” So far, MSRDC has acquired 81% of the total 8,603 hectare land required for the project. The expressway is proposed to connect 10 districts, 26 sub-districts and 392 villages in Maharashtra. The current travel time between Nagpur and Mumbai is set to reduce from 18 hours to 8 hours. The construction has been divided into 16 packages and the bid process for the remaining three packages is still under progress.
On Tuesday, Maharashtra Cabinet gave its approval for the Concession Agreement (CA). MSRDC has received an in-principle approval for Rs 14,700 crore from Punjab National Bank, HUDCO, Canara Bank, Dena Bank, Bank of Maharashtra, Corporation Bank, Bank of India, Indian Bank, Andhra Bank and Union Bank of India.
Besides, the corporation is already in talks for Rs 13,300 crore from State Bank of India, Life Insurance Corporation (LIC) and Indian Infrastructure Finance Company Limited (IIFCL). This total amount of `28,000 crore garnered from banks will be utilised for the civil engineering of the project.