Anil Ambani meets Chavan to salvage Sealink contract

Anil Ambani meets Chavan to salvage Sealink contractAnil Ambani had a meeting with Maharashtra Chief Minister Prithviraj Chavan. Details of meeting are not yet revealed, but it is said that issue of meeting was Maharashtra Government's plans of making a coastal road from Worli to Haji Ali and Haji Ali to Nariman Point.

The meeting took place just a day after Maharashtra State Road Development Corporation (MSRDC) had a meeting on possibility of building a coastal road from Worli to Haji Ali and then to Nariman Point.

Anil Ambani, in the Reliance ADAG style, hurried to meet CM to salvage his contract worth Rs 5000 crore for an extension of Bandra-Worli Sealink. This amount includes Rs 1634 crores for tolling rights. The contract was won by Reliance-Hyundai consortium last year but consortium could not manage funds for the project till deadline December 2010. Consortium then sought an extension of three months to manage funds. And now government's plans of coastal road increased worries of Anil Ambani.

He may insist CM that that if Government had such plans, why they allowed an extension?

Coastal road potentially will save the state Government Rs. 3000 crore. For this amount, MSRDC is even ready to pay Rs. 15 crore to the consortium, in addition to earnest money deposited to get the project.

Provision of this additional money can be seen as a compensation to the consortium. Sealink extension is biggest infrastructure contract in Mumbai and Anil Ambani has no will of losing it so easily.

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