The Maharashtra State Road Development Corporation Limited (MSRDC) is planning to switch to the build-operate-transfer (BOT) mode for the Virar-Alibaug Multi-Modal Corridor Project. The project is facing a delay owing to a lack of funding, since bids exceeded the budget by 36 per cent and MSRDC’s attempt to raise funds independently failed.
The 126 km Virar Alibaug corridor, estimated at Rs 660 billion with Rs 223 billion for land, is planned to be built in two phases. Around 98 km will be constructed in Phase I and around 29 km in Phase II.