After including taxes and environment related measures, the cost goes up to Rs. 12,721 crore.
The cost of the ambitious Coastal Road has nearly doubled in a year. A revised proposal, revealed to the BMC's Standing Committee in a meeting on Friday, states that the cost of three stages of the Coastal Road has increased to Rs. 8,429 crore from Rs. 4,816 crore estimated in August 2017.
After including taxes and environment related measures, the cost goes up to Rs. 12,721 crore. The figure is for just the 10-km stretch (from Princess Street Flyover to south end of Bandra Worli Sea Link) that the BMC will be financing of the 29-km corridor. The proposal may be taken up for discussion at the next meeting.
The CR that would run parallel to the western coastline from Nariman Point to Kandivali was envisaged in 2012 at an estimated cost of Rs 10,000 crore. The project that went through several approval phases, is being executed by various agencies.
While the BMC will be constructing the portion from Princess Street Flyover to south end of the Bandra Worli Sea Link, MSRDC will be engaged for the portion from north end of the Bandra Worli Sea Link to Versova. MSRDC's cost for the sea link alone is expected to be nearly Rs 7,000 crore. After acquisition, the total cost for MSRDC will be nearly Rs 11,500 crore.
The administration has listed several reasons for cost escalation and they include water tax, sewerage tax, supervision cost on project cost. The civic body has also cited that Rs.10 crore will be spent on Butterfly Garden as suggested by Environment and Forest Ministry, Rs.175 Crore for preservation of marine life and coastal vegetation and Rs. 124 crore to transfer service utilities duct.
"Costs have gone up thanks to taxes and certain norms suggested for preservation of environment, even though the actual cost of the project entrusted to BMC is Rs 8000 crores," said Sanjay Mukherjee, Additional Municipal Commissioner and in charge of project. He added, "It's a unique project and we put all the things in public domain-from pre qualification criteria to design to bidding. We estimated cost without any fixed methodology or technology, so that even international bidders could participate and we get the best bids."
It is also almost certain now that the Larsen and Toubro Ltd will get to construct two stages of the project – from Priyadarshini Park to Baroda Palace and from Baroda Palace to south end of the Bandra Worli Sea Link while the joint venture of HCC and Hyundai Development Corporation will build the third stage between Princess Street flyover to Priyadarshini Park. Chinese bidders were disallowed by the Centre on security grounds.
MSRDC has been awarded a contract to build stretch of 9.90 km between Bandra -Versova Sea link and Versova. A contract for the stage between Versova and Kandivali is yet to be awarded.
Rs 12.7K for 10 km
After taxes & environment, the project cost goes up to Rs. 12,721 crore. This is only for the 10-km stretch (Princess Street flyover to Bandra Worli Sea Link) that the BMC will fund.
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