Reliance Industries chairman Mukesh Ambani has picked up 75% stake in the special purpose vehicle (SPV) that has bid for the ambitious Sewri-Nhava Trans Harbour Sea Link project.

The Rs 2,700-crore six lane road bridge project will connect Central Mumbai to Navi Mumbai where Mukesh Ambani’s special economic zone project is fast coming up. Ambani bought the stake from Sea King Infrastructure Ltd (SKIL) for an undisclosed amount.

The bids for the project will be decided by next month and the final project would be awarded by December this year. Apart from Mukesh — who has invested in the project in his personal capacity — the other investors in the bidding company are IL&FS with 15 per cent stake and Nikhil Gandhi’s SKIL and Laing O Rourke of UK with 10 per cent.

A Reliance spokesperson said the company does not comment on Ambani’s personal investments.

The other two consortiums short-listed to submit their financial bids for the project are led by construction major Larsen & Toubro and Iffco.

The sealink would synergise with Mukesh Ambani’s plan to develop the special economic zone in New Mumbai and with the new international project now being planned in the same area. Sources say that Ambani is keen to develop the New Mumbai airport also at the same time. But a non-compete clause agreed with younger brother Anil Ambani following a family ownership issue settlement may have to be sorted out first.

The Phase I of the sealink project as per Maharastra State Road Development Corporation will include a 6-lane dual road bridge linking Nhava and Sewri. The Phase 2, which is expected to be added in the year 2015-2018 will consist of a double track rail link which will run parallel to the road link.

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