Reliance Infrastructure, an Anil Dhirubhai Ambani Group firm, signed a memorandum of understanding (MoU) with the Maharashtra State Road Development Corporation (MSRDC) to construct the 3.3-km Worli-Haji Ali sea link.
The sea link project is a joint venture between Reliance Infrastructure and and Hyundai Engineering & Construction Company of Korea. Reliance will invest Rs 3,446 crore in the construction of the sea link. The company expects to achieve financial closure in six months' time.Work on the project is expected to commence in December and completed by June 2014. A part of the Western Freeway Sea Link project, the Worli-Haji Ali sea-link is aimed at reducing travel time from the northwestern suburbs to the city.
The MoU also involves paying MSRDC Rs 1,634 crore for operating and maintaining the already functional Bandra-Worli sea link.