If you thought you would stop paying toll fee for the Bandra-Worli Sea Link ride any time soon, you have been stumped by the Maharashtra State Road Development Authority (MSRDC), which constructed the bridge.
Constructed at the cost of Rs 1,634 crore and thrown open for public in 2009, the MSRDC was supposed to collect toll for the bridge till 2039. However, it now wants to extend the toll collection period by another 20 years, till 2059, reported Mumbai Mirror.
With one-way toll for cars priced at Rs 60 and return priced at Rs 90, Rs 575 crore has already been recovered by the toll collection. According to the report, about 35,000 vehicles use the bridge every day.
The MSRDC has proposed that by extending the toll collection, it intends to raise funds for the Bandra-Versova Sea Link (BVSL). Officially called the Rajiv Gandhi Sea Link, the cable-stayed bridge which stretches 5.6 km has not only made the commute easier for the Mumbaikars, but has also become a tourist attraction.
We have sought permission from the state government to extend concession period (toll collection period) as MSRDC will need a steady stream of revenue to raise loans from financial institutions for other projects such as BVSL and we are awaiting the state government’s response.KV Kurundkar, MSRDC Joint Managing Director to Mumbai Mirror
However, another senior official, speaking to the Mirror explained that one should not just look at the cost of constructing the project but also that the actual cost of the project includes the bank interest on the loan borrowed for it.
While a new tender is being floated for the toll collection and maintenance of Bandra -Worli link for the next three years, the MSRDC is planning to start work on BVSL post monsoon.
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