The joint venture of Hindustan Construction Company Ltd (HCC) and Hyundai Development Company (HDC) has emerged as the front-runner in the tender for Mumbai Coastal Road Package-2, one of the four packages of the first phase of the Mumbai Coastal Road Project, according to sources.

The bids were opened by Municipal Corporation of Greater Mumbai (MCGM) on May 16.

Three pre-qualified companies including Larsen & Toubro (L&T), and joint ventures HCC-HDC and China Gezhouba-Soma Enterprise submitted bids for two packages. The last was not considered for want of security clearance, the sources said.

They added that the HCC joint venture placed the bid at ₹2,206 crore for Package 2, around 30 per cent higher than the reserved amount of ₹1,661 crore. L&T’s bid was at ₹2,279, they said, but this could not be independently verified by BusinessLine .

L&T and HCC refused to comment on the development, saying the bidding process is not over as the letters of award have not been issued by MCGM yet.

According to sources close to MCGM, the project has not yet been finalised, but the corporation is not considering rebidding.

Package 1 of the coastal road runs from Priyadarshini Park to Baroda Palace near Haji Ali, while Package 2 starts from Baroda Palace to the Worli end of the existing Bandra-Worli sea-link.

The deadline for bids submission for Package 4 — from Princess Street flyover on Marine Drive to Priyadarshini Park — has been postponed, the sources added.

The contract for another package within the first phase of the project — the 17 km Bandra-Versova sea-link that is handled by Maharashtra State Road Development Corporation — was recently awarded to Reliance Infrastructure, which bid nearly ₹7,000 crore. The company was also pre-qualified to submit financial bids for other packages, but did not do so, BusinessLine has learnt.

The total cost of the coastal road project is estimated at ₹15,000 crore.

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