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The Mumbai Port Authority (MbPA) has launched a new tender for the construction of the Marina project at Princess Dock, with an estimated cost of Rs 575 crore. Officials said the deadline for submitting bids is July 24 this year.
MBPA is implementing the proposed project on a public-private partnership (PPP) model, in which the designated concessionaire is required to design, build, and finance—that is, design, build, fully or partially finance, and operate the Marina for 45 years.
According to an official from the MBPA, the upcoming marina will offer parking for 300 yachts at Princes Dock. Since the project will be taken up in the PPP model, the appointed concessionaire will have to pay the license fee of Rs 690 crore (equivalent to the value of the land in that area).
“The selected franchisor need not be required to pay the license fee in one lump sum (advance payment), but after completing four years, he is required to pay the fee every year, up to 45 years in instalments. Since the first four years will be the construction period, no charge is charged. The burden of paying the license fee is on the agency,” the official said.
Meanwhile, MBPA has advertised the proposed project location with its proximity to the Eastern Highway – 25m wide road on all three sides, best power supply station and 300 car parking space readily available – to attract agencies to construct the project. Moreover, it is just seven kilometers away from the upcoming Sewri Mumbai Trans Harbor Sealink starting point.
Marine’s revised project cost has been pegged at Rs 575 crore – Rs 200 crore more compared to the previous tender, which was raised in 2019. The increase in cost is due to higher construction cost and more commercial space offered for the company, the same official added. Officials said that the construction period for the marina – which will be a yacht preservation facility – is 30 months.
Yachts are currently seen in the port of Mumbai, opposite the Gateway of India. The project aims to decongest the port.
MBPA Chairman Rajeev Jalota said the upcoming berth had nothing to do with the passenger ferry service per se.
“The leisure yachts that are there can come (India Gate), especially during the monsoon season, there is no resting place for the yachtsmen.
So, yachts are parked across Mumbai, Navi Mumbai, and other places. This can be overcome in Marina. Furthermore, a dry dock will be constructed – where a yacht repair and retrofit facility will also be provided. Jalota told Indian Express that the upcoming new facility will help in this regard. The official added that Mumbai has always been a good place for yachting. The sailors, who represent the Asian Games, used to come from Mumbai, but today, with no such facilities available, the activity has come to a complete halt. The official expressed the possibility of reviving the sport from Mumbai by building the new Marina project.
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