MMRDA said that this was not the end of the road. It would seek the state's opinion. There were options of direct cash contract or through annual bank payment, which were still open. There was also a possibility of recovery of impact fees or development charges in future to raise money so that MMRDA itself could construct the MTHL.
The project is intended to provide a fast connectivity from Mumbai city to Navi Mumbai. It is also intended to provide direct connectivity to the Mumbai Port Trust, Jawaharlal Nehru Port Trust and the proposed new international airport in Navi Mumbai. Apart from allowing faster commute from Mumbai to Navi Mumbai and Pune, the highway is expected to boost economic growth of neighbouring Raigad district. Consequentially, there would be a rise in the real estate prices in the region
The Mumbai Metropolitan Region Development Authority (MMRDA) commissioner said that it had received no bids till date, possibly because of the companies' inability to raise sufficient funds for the projects. The board also said that it would seek reasons from these companies for not submitting bids though they were investing in overseas projects. The additional commissioner said that the MMRDA was taking care of all risk factors. However, it may be possible that the companies had issues with raising funds.
Another possibility involved concerns about the negative cash flow due to uncertainty of traffic flow in the first five to seven years. Earlier, one of the five shortlisted companies had announced that it would not bid as it had not seen returns through toll from an earlier road development project even after two years.
The most ambitious Mumbai Trans-Harbour Link (MTHL) has hit a rough patch in the tendering process for the third time, after none of the shortlisted companies put in tenders for the project before the deadline.
The MTHL is a 22 km sea-link that connects Nhava and Sewri. It will be the longest sea bridge in India upon its completion. MTHL is 6-lane freeway grade road bridge, which is 27 meters in width. It will also be linked to the Mumbai-Pune Expressway to the east and the Western Freeway to the west. The estimated cost of the project is Rs. 9,360 crore and it is expected to complete in 2019.