(Yicai Global) March 30 -- India is planning to build a large cross-sea road bridge to help solve the traffic congestion problem in the western city of Mumbai, Japanese media reported.
Total construction costs of the highway bridge -- which will become India's longest road bridge when complete in 2021 -- are expected to reach USD2.7 billion.
Leading construction companies from China, Japan and South Korea are scrambling for the bridge project. China Zhongtie Major Bridge Engineering Group Co. (CZMBEC), Japan's IHI Infrastructure System Co. and South Korea's Daewoo Engineering & Construction Co. [KSE:047040] and SK Engineering & Construction Co. have all expressed an interest in bidding, Japan's Fuji Sankei Business reported. They will bid in partnership with leading Indian construction firms. Per its 2017 budget, India plans to invest INR3.96 trillion (USD61 billion) to build its railways, airports, roads as well as other infrastructure facilities this year.
CZMBEC is a wholly-owned subsidiary of China Railway Group Ltd. [SHA:601390;HKG:0390].