- Jawaharlal Nehru Port Trust (JNPT), National Highway Authority of India (NHAI) and City Industrial Development Corporation of Maharashtra Ltd (CIDCO) are working on a Rs. 1,800 crore road project to upgrade the existing 4 lanes of 43 km road network to 12 lanes, with 2 lanes for public vehicles on each side.
- This will increase connectivity between JNPT and the 3 major highways: Mumbai-Pune, Mumbai-Goa and Mumbai-Agra and render this a traffic conflict-free road. Provisions are present for overbridges and grid separators. This road may also give connectivity to the yet-to-come New Mumbai Airport.
- They have also formed a Special Purpose Vehicle (SPV) by name JNPT Road Company Lt., in which JNPT, NHAI and CIDCO will each have 40%, 50% and 10% equity, and have called for tenders to build it on a (Build Operate and Transfer) basis. If the bidding cycle for viable gap funding fails, SVP will construct the road.
- Port Trust of India
- Special Purpose Vehicle (SPV)
- Viable Gap Funding