COCHIN BRIDGE INFRASTRUCTURE COMPANY LIMITED (CBICL)
    NEW MATTANCHERRY BRIDGE PROJECT, COCHIN

The picturesque river bridge connects Fort Kochi (a heritage town and a famous tourist site) to Willingdon Island in the Cochin Port Trust area. The 700 meters long bridge provides a two-lane link across the Mattancherry channel.

This was the first BOT project in the state of Kerala, India. The client for the project is Government of Kerala (GoK) through its nodal agency - Greater Cochin Development Authority (GCDA).

AJRITL holds 97.66% stake in this project, with the rest being held by the Cochin Port Trust.

CBICL started commercial operations in October 2002 (ten months ahead of schedule). It was operational for 12 years from October 2002 to April 2014.

CBICL has a revenue stream that comprises of Toll and Annuity. The concession / licence period for this project is 19 years and 9 months that ends in April 2020.

However, the GCDA on 27th April 2014, without compensating CBICL and in disregard of the Arbitral Tribunal orders, chose to unilaterally seal the toll booths of CBICL at the Mattancherry Bridge at Kochi.

On the directions of Hon’ble High Court of Kerala, the GoK decided to pay about Rs.16.23 Crores to CBICL. However, the same is yet to be received due to some representation from local resident. Therefore, CBICL has moved Interim application before the Hon’ble High Court of Kerala and has filed fresh writ in the matter before the Hon’ble High Court of Kerala for necessary legal relief. The Hon’ble High Court of Kerala has passed an order in August, 2019 allowing the revival of the arbitration proceedings, and informed GCDA / GoK in January, 2020 for revival of the Arbitration proceedings which was earlier kept in abeyance. GCDA response is awaited in the matter.