The Versova–Bandra Sea Link received environmental clearance, under certain conditions, from the Ministry of Environment and Forests in January 2013. A cabinet sub-committee on infrastructure chaired by then Maharashtra Chief Minister Prithviraj Chavan cleared the project on 15 January 2014. Some observers felt that the move was an attempt to keep Nationalist Congress Party happy prior to the 2014 Lok Sabha elections, as this project and the Pune Ring Road project which was also approved the sub-committee, would be undertaken by the MSRDC, which was then headed by the NCP. The project had been pending for approval from the State Government for the past three years. The fate of the sealink had been uncertain after Chavan said that coastal roads were less expensive to build. Chavan stated that he also favoured coastal roads because they had less environmental hurdles than a sealink. BMC officials stated that the government had not clarified the future of the coastal road project, after approving the VBSL. The MSRDC invited request for qualification from companies interested in constructing the VBSL on 2 March 2014. The agency conducted a pre-bid conference for potential bidders on 28 March. The last date for the submission of technical bids was fixed as 30 May, and the MSRDC planned to open technical bids on 31 May 2014, as per the tender notice. The MSRDC estimated the project concession period to be 35 years in the absence of any viability gap funding. However, after some members of the infrastructure sub-committee expressed reservations about the long concession period, the corporation decided to seek 20% from the Union government, which the MSRDC estimated would reduce the concession period to about 28–30 years. The Louis Berger Group was awarded a contract to provide project management services for the VBSL project in January 2018. A joint venture between Reliance Infrastructure and Italian construction company Astaldi SpA was awarded an engineering, procurement and construction contract worth to build the VBSL in May 2018. The agreement was signed between the consortium and the MSRDC on 4 September 2018. The MSRDC also announced that it had appointed the Louis Berger Group to design three connecting roads to link the Versova–Bandra Sea Link with key roads near its entry and exit points. Construction on the project will have to be halted for three months every year during the monsoon season. On 26 February 2019, the Maharashtra Coastal Zone Management Authority approved the setting up of a casting yard at Juhu Beach for the project. Activist Zoru Bhathena filed a petition challenging the decision in the Bombay High Court. The High Court cancelled the permission granted by the MCZMA citing a violation of coastal regulation zone guidelines on 26 April. The MSRDC filed a special leave petition appealing the order in the Supreme Court. On 9 May, the two-judge bench of the Supreme Court upheld the High Court's verdict. The MSRDC withdrew its special leave petition, and stated that it would it file a writ petition seeking permission from the High Court to set up the casting yard. If the petition is denied the agency will have to find alternate land for the casting yard, which would delay the start of construction. The agency filed a review petition with the High Court on 30 August. MSRDC officials stated that they were also exploring the possibility of renting land temporarily for use as a casting yard in case the review petition failed. The agency also requested the National Environmental Engineering Research Institute to conduct an environment assessment report on the proposed casting yard.
Cost
The cost of the project was originally estimated as in 2012. This escalated to in 2013, and in 2014. The cost at the time of construction was. The Financial Express reported in September 2018 that the actual cost of the project would likely escalate to by the time it is completed in 2023. MSRDC Vice Chairman Radheshyam Mopalwar stated that tolls would be collected on the sea link until 2052. The toll rates are expected to thrice the rates on the Bandra-Worli Sea Link as the Versova Bandra Sea Link is thrice as long.
