Last week, none of the seven shortlisted consortia turned up to submit the financial bids for the Charkop-Bandra-Mankhurd corridor, despite the bid submission date being extended thrice on their demand. “On request of the bidders we have extended the submission date to March 16,” said Dilip Kawathkar, spokesperson, Mumbai Metropolitan Region Development Authority (MMRDA).

According to a senior MMRDA official, the consortia in earlier pre-bid meeting had made it clear that they wanted extension till March-end to assess the financial situation and bid accordingly. “Currently, the bidders are unable to get the figures right considering the volatile markets. They don’t want to take risk in a multi-crore project like this and require time to put in a reasonable bid,” the official said requesting anonymity.

With the nodal agency extending the date for submission of financial bids, the decision on the second corridor would be on hold as the general elections are likely to be held between April 8 and May 15. The extension would mean that the work orders for the construction of the second corridor are likely only after elections.

Sources also believe that this could prove a blessing in disguise for the ruling coalition, which has drawn flak from residents from areas along the alignment of the 32-km Metro line. As many as 8,000 residents from areas like Juhu, Khar, Vile Parle, Bandra, etc signed up against the elevated metro line demanding that a certain portion be made underground.

The seven consortia, which were shortlisted for the project, included Anil Ambani-led Reliance Energy, which has bagged the contract for the phase-I of the Metro, and joined hands with Canadian firm SNC Lavalin for the second stretch.