Mumbai Coastal Road project's clearance cancellation to impact L&T, HCC

The coastal road project is one of the many infrastructure projects underway in Mumbai to decongest roads and other transport systems

The Bombay High Court decision on Tuesday to cancel coastal regulation zone (CRZ) clearance to the Mumbai Coastal Road project will impact the order book for companies like Larsen & Toubro (L&T) and HCC.

L&T was awarded two packages of the coastal road project worth Rs 7,489 crore in October last year. HCC, in a joint venture with Hyundai Development Corporation, was awarded another contract for the project worth Rs 2,126 crore. HCC’s share in the joint venture is 55 per cent with an order inflow of Rs 1,169 crore.

"We declare that MCGM cannot proceed with the works without